Global Payments Inc. (NYSE:GPN) Stake Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 7.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 223,779 shares of the business services provider's stock after selling 19,108 shares during the period. New York State Teachers Retirement System owned 0.09% of Global Payments worth $21,912,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GPN. Optiver Holding B.V. purchased a new position in shares of Global Payments in the fourth quarter valued at $28,000. NBC Securities Inc. bought a new stake in Global Payments in the first quarter worth about $30,000. Quintet Private Bank Europe S.A. purchased a new position in Global Payments in the 4th quarter worth about $38,000. True Wealth Design LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at $40,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Global Payments by 4,866.7% in the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock worth $44,000 after acquiring an additional 438 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GPN shares. Barclays lowered their target price on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Keefe, Bruyette & Woods boosted their price target on Global Payments from $78.00 to $81.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on Global Payments from $115.00 to $85.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Wolfe Research reissued a "peer perform" rating on shares of Global Payments in a report on Wednesday, April 23rd. Finally, Citigroup restated a "buy" rating on shares of Global Payments in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $110.91.

Global Payments Stock Performance

Shares of GPN stock traded down $0.20 during mid-day trading on Friday, reaching $81.79. The stock had a trading volume of 1,007,563 shares, compared to its average volume of 2,508,605. The firm has a market cap of $19.95 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.78 and a beta of 0.94. The business's fifty day moving average is $77.98 and its 200-day moving average is $93.05. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, topping 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 firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the business posted $2.59 earnings per share. The firm's revenue was down .3% compared to the same quarter last year. On average, research analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, June 13th. Global Payments's payout ratio is 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.