Two Sigma Investments LP Takes Position in Global Payments Inc. (NYSE:GPN)

Two Sigma Investments LP purchased a new stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,974 shares of the business services provider's stock, valued at approximately $1,006,000.

Several other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of Global Payments in the fourth quarter valued at $345,823,000. Pzena Investment Management LLC grew its holdings in shares of Global Payments by 25.0% in the 4th quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider's stock worth $929,969,000 after acquiring an additional 1,659,984 shares during the last quarter. Contour Asset Management LLC acquired a new stake in shares of Global Payments during the fourth quarter worth $147,695,000. Focused Investors LLC acquired a new stake in shares of Global Payments during the fourth quarter worth $99,969,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Global Payments during the fourth quarter valued at $53,700,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Performance

GPN traded up $0.86 on Friday, hitting $76.88. The company had a trading volume of 3,055,104 shares, compared to its average volume of 2,469,348. The stock has a market cap of $18.75 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 0.86 and a beta of 0.93. 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's fifty day moving average price is $79.07 and its 200 day moving average price is $97.99. 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 released 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. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 earnings per share. Equities analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, June 13th. Global Payments's dividend payout ratio is currently 16.13%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GPN shares. Evercore ISI began coverage on 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. TD Cowen downgraded shares of Global Payments from a "buy" rating to a "hold" rating and set a $78.00 target price on the stock. in a research report on Monday, April 21st. Royal Bank of Canada lowered 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. Wolfe Research restated a "peer perform" rating on shares of Global Payments in a research report on Wednesday, April 23rd. Finally, Truist Financial initiated coverage on shares of Global Payments in a research report on Monday, June 2nd. They set a "hold" rating and a $79.00 price objective on the stock. One equities research 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 MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $110.91.

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.