Pzena Investment Management LLC Has $816.08 Million Position in Global Payments Inc. (NYSE:GPN)

Pzena Investment Management LLC increased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,334,097 shares of the business services provider's stock after acquiring an additional 35,251 shares during the period. Global Payments comprises about 2.9% of Pzena Investment Management LLC's investment portfolio, making the stock its 15th biggest position. Pzena Investment Management LLC owned 3.39% of Global Payments worth $816,075,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Brighton Jones LLC acquired a new position in Global Payments in the fourth quarter valued at about $725,000. HighTower Advisors LLC boosted its position in Global Payments by 22.0% in the fourth quarter. HighTower Advisors LLC now owns 36,294 shares of the business services provider's stock valued at $4,067,000 after buying an additional 6,533 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in Global Payments by 2.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 6,484 shares of the business services provider's stock valued at $727,000 after buying an additional 173 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Global Payments by 255.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,909 shares of the business services provider's stock worth $4,248,000 after purchasing an additional 27,252 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Global Payments by 1.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider's stock worth $1,228,000 after purchasing an additional 117 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GPN. JPMorgan Chase & Co. reduced their target price on shares of Global Payments from $115.00 to $85.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Robert W. Baird reduced their target price on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. KeyCorp upped their target price on shares of Global Payments from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company reduced their target price on shares of Global Payments from $105.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $111.55.

Global Payments Stock Down 1.3%

Shares of GPN stock traded down $1.11 during trading hours on Friday, hitting $81.93. 2,303,685 shares of the company were exchanged, compared to its average volume of 2,505,501. The business has a 50 day moving average of $78.65 and a two-hundred day moving average of $90.87. 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 52 week low of $65.93 and a 52 week high of $120.00. The company has a market capitalization of $19.98 billion, a PE ratio of 13.21, a PEG ratio of 0.80 and a beta of 0.94.

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

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date 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.