Teacher Retirement System of Texas Has $4.50 Million Position in Global Payments Inc. (NYSE:GPN)

Teacher Retirement System of Texas boosted its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 1,828.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,932 shares of the business services provider's stock after purchasing 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of GPN. Truvestments Capital LLC raised its position in shares of Global Payments by 2.9% in the 4th 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 in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Global Payments by 1.1% in the 4th 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 during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Global Payments by 0.4% in the 4th 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 in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Global Payments by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock worth $385,000 after purchasing an additional 144 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its holdings in Global Payments by 7.9% during the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock worth $209,000 after buying an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Stock Down 2.9%

Shares of GPN traded down $2.35 during mid-day trading on Friday, hitting $78.88. 2,334,705 shares of the company's stock were exchanged, compared to its average volume of 2,507,079. The firm has a fifty day moving average of $78.53 and a two-hundred day moving average of $91.98. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The stock has a market cap of $19.24 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.77 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results 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 return on equity of 12.33% and a net margin of 15.48%. 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 company posted $2.59 EPS. The firm's revenue was down .3% on a year-over-year basis. On average, sell-side analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. Global Payments's payout ratio is presently 16.13%.

Analysts Set New Price Targets

A number of research firms have commented on GPN. Evercore ISI started coverage on Global Payments in a report on Wednesday, April 9th. They set an "in-line" rating and a $85.00 target price on the stock. JPMorgan Chase & Co. reduced their price target 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. Truist Financial started coverage on shares of Global Payments in a research note on Monday, June 2nd. They set a "hold" rating and a $79.00 price objective on the stock. Jefferies Financial Group downgraded Global Payments from a "buy" rating to a "hold" rating and set a $75.00 target price for the company. in a research note on Friday, April 18th. Finally, TD Cowen cut Global Payments from a "buy" rating to a "hold" rating and set a $78.00 price target on the stock. in a research report on Monday, April 21st. 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. Based on data from MarketBeat, Global Payments presently has an average rating of "Hold" and a consensus target price 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.