Penserra Capital Management LLC Boosts Holdings in Global Payments Inc. (NYSE:GPN)

Penserra Capital Management LLC grew its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 5.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,234 shares of the business services provider's stock after purchasing an additional 7,437 shares during the period. Penserra Capital Management LLC owned approximately 0.05% of Global Payments worth $13,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Global Payments in the 4th quarter worth about $345,823,000. Pzena Investment Management LLC grew its stake in shares of Global Payments by 25.0% during the fourth quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider's stock valued at $929,969,000 after buying an additional 1,659,984 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Global Payments by 75,379.7% in the first quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider's stock worth $148,558,000 after buying an additional 1,515,131 shares during the period. Contour Asset Management LLC bought a new stake in shares of Global Payments during the 4th quarter worth approximately $147,695,000. Finally, Focused Investors LLC purchased a new position in Global Payments during the 4th quarter valued at $99,969,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GPN shares. Cowen lowered Global Payments from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Royal Bank Of Canada lowered Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price target on the stock. in a research note on Friday, April 25th. 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. TD Cowen downgraded shares of Global Payments from a "buy" rating to a "hold" rating and set a $78.00 target price on the stock. in a research report on Monday, April 21st. Finally, Jefferies Financial Group lowered shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target for the company. in a report on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Global Payments has an average rating of "Hold" and a consensus target price of $110.91.

Global Payments Stock Performance

Shares of NYSE GPN traded down $1.82 during mid-day trading on Monday, hitting $80.03. The stock had a trading volume of 1,470,146 shares, compared to its average volume of 2,509,196. The firm has a market cap of $19.52 billion, a PE ratio of 12.91, a PEG ratio of 0.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50 day moving average of $78.16 and a two-hundred day moving average of $92.58. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the business earned $2.59 EPS. The company's quarterly revenue was down .3% compared to the same quarter last year. Research analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.25%. 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.