California Public Employees Retirement System Has $60.24 Million Stock Position in Global Payments Inc. (NYSE:GPN)

California Public Employees Retirement System trimmed its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 474,290 shares of the business services provider's stock after selling 22,942 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Global Payments worth $60,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BluePath Capital Management LLC acquired a new stake in shares of Global Payments in the 3rd quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Global Payments in the 4th quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Global Payments in the 4th quarter valued at approximately $41,000. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Global Payments in the 3rd quarter valued at approximately $47,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Global Payments by 77.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider's stock valued at $47,000 after buying an additional 178 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GPN. Susquehanna raised their price target on Global Payments from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, February 15th. Royal Bank of Canada lifted their price objective on Global Payments from $154.00 to $172.00 and gave the stock an "outperform" rating in a report on Thursday, February 15th. TheStreet raised Global Payments from a "c" rating to a "b-" rating in a report on Thursday, February 1st. UBS Group lifted their price objective on Global Payments from $130.00 to $145.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. Finally, Barclays reduced their price objective on Global Payments from $170.00 to $160.00 and set an "overweight" rating for the company in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat, Global Payments presently has an average rating of "Moderate Buy" and an average target price of $151.92.

Global Payments Trading Down 0.0 %

Global Payments stock traded down $0.06 during trading on Friday, hitting $124.57. The company's stock had a trading volume of 1,592,868 shares, compared to its average volume of 2,149,871. The stock has a market capitalization of $31.78 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 0.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 0.99. The stock's fifty day moving average is $129.19 and its 200 day moving average is $124.65. Global Payments Inc. has a 1-year low of $95.12 and a 1-year high of $141.77.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 EPS for the quarter, topping the consensus estimate of $2.64 by $0.01. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.18 billion. Global Payments had a return on equity of 11.44% and a net margin of 10.22%. The firm's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.30 earnings per share. As a group, equities research analysts predict that Global Payments Inc. will post 10.94 EPS for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a yield of 0.80%. Global Payments's dividend payout ratio is presently 26.46%.

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.