Sone Capital Management LLC Invests $3.01 Million in Global Payments Inc. (NYSE:GPN)

Sone Capital Management LLC purchased a new stake in Global Payments Inc. (NYSE:GPN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 26,827 shares of the business services provider's stock, valued at approximately $3,006,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Optiver Holding B.V. bought a new stake in shares of Global Payments during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new stake in Global Payments during the 4th quarter worth $37,000. Quintet Private Bank Europe S.A. bought a new position in shares of Global Payments during the 4th quarter valued at about $38,000. True Wealth Design LLC bought a new position in Global Payments in the fourth quarter valued at approximately $40,000. Finally, Manchester Capital Management LLC boosted its stake in Global Payments by 177.5% in the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock worth $53,000 after purchasing an additional 300 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Trading Down 0.7%

Shares of NYSE:GPN opened at $82.37 on Monday. The business's 50 day simple moving average is $85.32 and its 200 day simple moving average is $101.74. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. The company has a market capitalization of $20.09 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.86 and a beta of 0.96.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings results 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 return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the firm earned $2.59 earnings per share. Global Payments's revenue for the quarter was down .3% compared to the same quarter last year. On average, research analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Global Payments's dividend payout ratio (DPR) is 16.13%.

Wall Street Analysts Forecast Growth

GPN has been the subject of a number of analyst reports. Evercore ISI assumed 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 target on the stock. Williams Trading set a $75.00 target price on Global Payments in a research report on Friday, April 18th. Morgan Stanley dropped their target price on Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Citigroup restated a "buy" rating on shares of Global Payments in a research note on Monday, April 21st. Finally, Barclays dropped their price objective on Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $112.43.

Global Payments Company 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.

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