Machina Capital S.A.S. Has $2.56 Million Holdings in Global Payments Inc. (NYSE:GPN)

Machina Capital S.A.S. increased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 66.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,143 shares of the business services provider's stock after acquiring an additional 10,427 shares during the quarter. Machina Capital S.A.S.'s holdings in Global Payments were worth $2,560,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GPN. Pinnacle Associates Ltd. increased its stake in Global Payments by 4.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock worth $425,000 after acquiring an additional 171 shares during the period. Guardian Wealth Management Inc. lifted its position in shares of Global Payments by 8.1% during the 1st quarter. Guardian Wealth Management Inc. now owns 22,018 shares of the business services provider's stock valued at $2,156,000 after acquiring an additional 1,651 shares during the period. IMA Advisory Services Inc. acquired a new stake in shares of Global Payments during the 1st quarter worth $98,000. Venturi Wealth Management LLC grew its holdings in shares of Global Payments by 11.1% during the 1st quarter. Venturi Wealth Management LLC now owns 3,287 shares of the business services provider's stock worth $322,000 after purchasing an additional 329 shares in the last quarter. Finally, Readystate Asset Management LP increased its position in shares of Global Payments by 130.0% in the first quarter. Readystate Asset Management LP now owns 87,594 shares of the business services provider's stock worth $8,577,000 after purchasing an additional 49,506 shares during the period. 89.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GPN has been the subject of several recent analyst reports. Robert W. Baird cut their price objective on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group cut shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 target price for the company. in a research report on Friday, April 18th. Evercore ISI initiated coverage on shares of Global Payments in a research report on Wednesday, April 9th. They set an "in-line" rating and a $85.00 price target on the stock. Truist Financial upped their target price on Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Finally, Mizuho raised Global Payments from a "neutral" rating to an "outperform" rating and raised their target price for the company from $86.00 to $114.00 in a report on Friday. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Global Payments has an average rating of "Hold" and a consensus price target of $111.65.

Global Payments Trading Up 3.4%

NYSE GPN traded up $2.81 during mid-day trading on Friday, reaching $85.86. 3,422,400 shares of the stock were exchanged, compared to its average volume of 2,056,148. The stock has a market cap of $20.94 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.80 and a beta of 0.94. 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 one year low of $65.93 and a one year high of $120.00. The stock has a 50 day simple moving average of $78.70 and a 200-day simple moving average of $89.85.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.09. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the business earned $2.59 EPS. The firm's revenue was down .3% compared to the same quarter last year. On average, analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, June 13th. Global Payments's dividend payout ratio (DPR) is presently 16.13%.

Global Payments Company Profile

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.