Teacher Retirement System of Texas Buys 43,550 Shares of Global Payments Inc. (NYSE:GPN)

Teacher Retirement System of Texas grew its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 1,828.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,932 shares of the business services provider's stock after buying an additional 43,550 shares during the quarter. Teacher Retirement System of Texas' holdings in Global Payments were worth $4,498,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GPN. Norges Bank acquired a new position in shares of Global Payments during the fourth quarter valued at about $345,823,000. Pzena Investment Management LLC boosted its holdings in 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 worth $929,969,000 after purchasing an additional 1,659,984 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Global Payments by 75,379.7% during 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 purchasing an additional 1,515,131 shares during the last quarter. Contour Asset Management LLC purchased a new position in Global Payments during the fourth quarter worth about $147,695,000. Finally, Focused Investors LLC purchased a new position in Global Payments during the fourth quarter worth about $99,969,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Performance

Shares of NYSE GPN traded up $0.56 during midday trading on Thursday, hitting $81.21. The company's stock had a trading volume of 2,894,977 shares, compared to its average volume of 2,507,769. The stock has a fifty day moving average price of $78.53 and a 200 day moving average price of $91.98. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $19.81 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 0.77 and a beta of 0.94.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.09. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. Global Payments's revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.59 EPS. On average, research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, June 13th. Global Payments's dividend payout ratio (DPR) is presently 16.13%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank Of Canada cut shares of Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price target on the stock. in a report on Friday, April 25th. Jefferies Financial Group cut shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target on the stock. in a report on Friday, April 18th. Robert W. Baird cut their price target on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Truist Financial assumed coverage on shares of Global Payments in a report on Monday, June 2nd. They set a "hold" rating and a $79.00 price target on the stock. Finally, Williams Trading set a $75.00 price target on shares of Global Payments in a report on Friday, April 18th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $111.09.

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.