Leeward Investments LLC MA lessened its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 3.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 105,300 shares of the business services provider's stock after selling 3,681 shares during the period. Leeward Investments LLC MA's holdings in Global Payments were worth $10,311,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPN. Norges Bank acquired a new stake in shares of Global Payments in the fourth quarter valued at $345,823,000. Pzena Investment Management LLC grew its position in Global Payments by 25.0% in the 4th quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider's stock valued at $929,969,000 after acquiring an additional 1,659,984 shares in the last quarter. SG Americas Securities LLC grew its position in Global Payments by 75,379.7% in the 1st quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider's stock valued at $148,558,000 after acquiring an additional 1,515,131 shares in the last quarter. Contour Asset Management LLC purchased a new stake in Global Payments during the fourth quarter worth about $147,695,000. Finally, Focused Investors LLC acquired a new stake in shares of Global Payments during the fourth quarter worth about $99,969,000. Hedge funds and other institutional investors own 89.76% of the company's stock.
Global Payments Stock Down 0.2%
GPN stock opened at $81.79 on Friday. The company has a market cap of $19.95 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. The company has a fifty day moving average price of $77.98 and a 200 day moving average price of $93.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.94 and a quick ratio of 0.94. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00.
Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.09. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.59 earnings per share. Sell-side analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current year.
Global Payments Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, June 13th. Global Payments's dividend payout ratio (DPR) is presently 16.13%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on GPN shares. Cowen cut shares of Global Payments from a "buy" rating to a "hold" rating in a report on Monday, April 21st. JPMorgan Chase & Co. dropped their price target on shares of Global Payments from $115.00 to $85.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Barclays decreased their target price on Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Citigroup restated a "buy" rating on shares of Global Payments in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $110.91.
Read Our Latest Report on Global Payments
About Global Payments
(
Free Report)
Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.
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