Global Payments Inc. (NYSE:GPN) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 1,828.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truvestments Capital LLC grew its holdings in Global Payments by 2.9% in the fourth quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider's stock valued at $413,000 after purchasing an additional 103 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Global Payments by 1.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider's stock valued at $1,228,000 after purchasing an additional 117 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Global Payments by 0.4% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,902 shares of the business services provider's stock valued at $3,795,000 after purchasing an additional 122 shares during the period. Perigon Wealth Management LLC grew its holdings in Global Payments by 3.8% in the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock valued at $385,000 after purchasing an additional 144 shares during the period. Finally, Transcend Capital Advisors LLC grew its holdings in Global Payments by 7.9% in the first quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock valued at $209,000 after purchasing an additional 157 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on GPN shares. KeyCorp boosted their price objective on shares of Global Payments from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Evercore ISI started coverage on shares of Global Payments in a research note on Wednesday, April 9th. They set an "in-line" rating and a $85.00 price objective for the company. Cowen downgraded shares of Global Payments from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on shares of Global Payments from $115.00 to $85.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada downgraded shares of Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price objective for the company. in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Global Payments has a consensus rating of "Hold" and a consensus price target of $110.91.

Global Payments Stock Up 0.7%

GPN traded up $0.57 during trading on Tuesday, hitting $80.65. The company had a trading volume of 1,528,155 shares, compared to its average volume of 2,876,070. The company has a market cap of $19.67 billion, a PE ratio of 13.01, a P/E/G ratio of 0.78 and a beta of 0.94. The business has a 50-day moving average of $78.28 and a 200-day moving average of $92.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.94 and a quick ratio of 0.94. Global Payments Inc. has a 1-year low of $65.93 and a 1-year 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 (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.09. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The firm's quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $2.59 earnings per share. As a group, analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. Global Payments's dividend payout ratio (DPR) is 16.13%.

About Global Payments

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.