Global Payments Inc. (NYSE:GPN) Holdings Boosted by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI boosted its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 126.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,690 shares of the business services provider's stock after purchasing an additional 8,775 shares during the period. Arcadia Investment Management Corp MI's holdings in Global Payments were worth $2,097,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BluePath Capital Management LLC acquired a new stake in shares of Global Payments during the 3rd quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Global Payments during the 4th quarter valued at $30,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Global Payments during the 4th quarter valued at $41,000. West Paces Advisors Inc. boosted its stake in shares of Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider's stock valued at $41,000 after buying an additional 109 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Global Payments by 77.7% during 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GPN. Mizuho reissued a "neutral" rating and set a $129.00 target price on shares of Global Payments in a research note on Wednesday, March 27th. Morgan Stanley lifted their price objective on shares of Global Payments from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of Global Payments from $158.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday. B. Riley lifted their price objective on shares of Global Payments from $180.00 to $186.00 and gave the company a "buy" rating in a research note on Monday, February 5th. Finally, Barclays reduced their price objective on shares of Global Payments from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Global Payments has an average rating of "Moderate Buy" and an average target price of $150.04.

Global Payments Stock Performance

Shares of NYSE:GPN traded up $1.48 on Thursday, hitting $110.54. 3,990,286 shares of the company were exchanged, compared to its average volume of 2,269,543. The company's 50 day moving average price is $127.93 and its two-hundred day moving average price is $124.72. Global Payments Inc. has a one year low of $95.12 and a one year high of $141.77. 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 firm has a market capitalization of $28.20 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 0.79 and a beta of 0.97.

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

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. Global Payments's payout ratio is currently 26.46%.

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.

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