Global Payments Inc. (NYSE:GPN) Stock Holdings Increased by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 492,537 shares of the business services provider's stock after acquiring an additional 31,696 shares during the period. Rhumbline Advisers owned 0.20% of Global Payments worth $48,229,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. AIA Group Ltd bought a new position in shares of Global Payments during the fourth quarter worth about $349,000. Oribel Capital Management LP grew its position in Global Payments by 495.1% in the 4th quarter. Oribel Capital Management LP now owns 521,300 shares of the business services provider's stock valued at $58,417,000 after buying an additional 433,700 shares in the last quarter. Caprock Group LLC grew its position in Global Payments by 9.8% in the 4th quarter. Caprock Group LLC now owns 2,313 shares of the business services provider's stock valued at $259,000 after buying an additional 206 shares in the last quarter. Van ECK Associates Corp grew its position in Global Payments by 106.1% in the 4th quarter. Van ECK Associates Corp now owns 50,705 shares of the business services provider's stock valued at $5,682,000 after buying an additional 26,104 shares in the last quarter. Finally, Focused Investors LLC bought a new position in Global Payments in the 4th quarter valued at about $99,969,000. Institutional investors own 89.76% of the company's stock.

Global Payments Trading Down 0.9%

GPN stock traded down $0.71 during mid-day trading on Thursday, reaching $75.98. 1,606,900 shares of the stock traded hands, compared to its average volume of 2,468,335. The company has a current ratio of 0.97, a quick ratio of 0.93 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 cap of $18.53 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.86 and a beta of 0.96. The stock's fifty day moving average is $79.94 and its 200-day moving average is $98.64.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.09. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm earned $2.59 earnings per share. The business's quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, June 13th. Global Payments's dividend payout ratio is presently 16.13%.

Wall Street Analysts Forecast Growth

GPN has been the subject of a number of recent analyst reports. KeyCorp increased their target price on shares of Global Payments from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Williams Trading set a $75.00 target price on shares of Global Payments in a research report on Friday, April 18th. Cowen lowered shares of Global Payments from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Barclays decreased their target price on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Truist Financial initiated coverage on shares of Global Payments in a research report on Monday. They issued a "hold" rating and a $79.00 target price for the company. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $110.91.

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.