Tredje AP fonden increased its position in Global Payments Inc (NYSE:GPN) by 118.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,840 shares of the business services provider’s stock after acquiring an additional 21,562 shares during the quarter. Tredje AP fonden’s holdings in Global Payments were worth $4,802,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Virtus ETF Advisers LLC acquired a new stake in shares of Global Payments in the fourth quarter valued at about $29,000. Global Retirement Partners LLC lifted its position in shares of Global Payments by 2,928.6% during the 1st quarter. Global Retirement Partners LLC now owns 212 shares of the business services provider’s stock worth $31,000 after purchasing an additional 205 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Global Payments by 1,976.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 270 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 257 shares during the period. Tarbox Family Office Inc. grew its holdings in Global Payments by 69.4% in the 4th quarter. Tarbox Family Office Inc. now owns 293 shares of the business services provider’s stock valued at $53,000 after buying an additional 120 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA increased its position in Global Payments by 162.0% in the 1st quarter. San Francisco Sentry Investment Group CA now owns 317 shares of the business services provider’s stock worth $45,000 after buying an additional 196 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Oppenheimer increased their price objective on Global Payments from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Susquehanna Bancshares reduced their price target on shares of Global Payments from $235.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, April 9th. Cantor Fitzgerald raised their price target on shares of Global Payments from $196.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Deutsche Bank cut their price objective on shares of Global Payments from $230.00 to $207.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, UBS Group lifted their target price on Global Payments from $216.00 to $221.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $193.10.
Shares of NYSE GPN traded up $0.59 during mid-day trading on Friday, hitting $177.00. 56,203 shares of the stock were exchanged, compared to its average volume of 1,735,049. Global Payments Inc has a twelve month low of $105.54 and a twelve month high of $209.62. The stock’s fifty day simple moving average is $155.92 and its two-hundred day simple moving average is $175.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $53.98 billion, a P/E ratio of 82.82, a PEG ratio of 2.09 and a beta of 1.14.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.58 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.05. Global Payments had a return on equity of 6.46% and a net margin of 7.79%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company earned $1.34 EPS. Global Payments’s revenue for the quarter was up 115.6% on a year-over-year basis. As a group, equities research analysts predict that Global Payments Inc will post 5.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, June 11th. Global Payments’s payout ratio is presently 13.31%.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
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