Man Group plc Buys New Stake in Global Payments Inc. (NYSE:GPN)

Man Group plc purchased a new stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,829 shares of the business services provider's stock, valued at approximately $1,550,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV raised its stake in shares of Global Payments by 1.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 31,362 shares of the business services provider's stock valued at $3,524,000 after acquiring an additional 305 shares in the last quarter. NorthRock Partners LLC bought a new stake in shares of Global Payments during the fourth quarter valued at approximately $251,000. OMERS ADMINISTRATION Corp raised its stake in shares of Global Payments by 19.5% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 10,807 shares of the business services provider's stock valued at $1,211,000 after acquiring an additional 1,765 shares in the last quarter. Maytus Capital Management LLC raised its stake in shares of Global Payments by 61.0% during the fourth quarter. Maytus Capital Management LLC now owns 67,632 shares of the business services provider's stock valued at $7,579,000 after acquiring an additional 25,632 shares in the last quarter. Finally, Meridiem Capital Partners LP bought a new stake in shares of Global Payments during the fourth quarter valued at approximately $31,229,000. Institutional investors own 89.76% of the company's stock.

Wall Street Analyst Weigh In

GPN has been the subject of a number of recent research reports. Evercore ISI initiated coverage on shares of Global Payments in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price objective for the company. KeyCorp boosted their price objective on shares of Global Payments from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Williams Trading set a $75.00 price objective on shares of Global Payments in a research note on Friday, April 18th. Royal Bank of Canada downgraded shares of Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price objective for the company. in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Global Payments from $78.00 to $81.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $112.43.

Global Payments Stock Performance

Shares of GPN traded up $0.23 during trading hours on Thursday, reaching $75.22. 316,586 shares of the company traded hands, compared to its average volume of 2,471,753. The stock has a market capitalization of $18.35 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.86 and a beta of 0.96. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The business has a fifty day moving average price of $82.27 and a 200-day moving average price of $100.03.

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 for the quarter, beating analysts' consensus estimates of $2.73 by $0.09. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.59 earnings per share. Equities analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. Global Payments's dividend payout ratio is presently 16.13%.

Global Payments 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.