Other institutional investors also recently made changes to their positions in the company. Penserra Capital Management LLC boosted its stake in shares of Global Payments by 6.4% in the 1st quarter. Penserra Capital Management LLC now owns 1,389 shares of the business services provider’s stock valued at $190,000 after purchasing an additional 83 shares in the last quarter. Financial Advantage Inc. boosted its stake in shares of Global Payments by 0.3% in the 3rd quarter. Financial Advantage Inc. now owns 25,554 shares of the business services provider’s stock valued at $2,761,000 after purchasing an additional 86 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of Global Payments by 10.7% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 897 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 87 shares in the last quarter. Desjardins Global Asset Management Inc. boosted its stake in shares of Global Payments by 2.7% in the 3rd quarter. Desjardins Global Asset Management Inc. now owns 3,637 shares of the business services provider’s stock valued at $392,000 after purchasing an additional 97 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Global Payments by 4.7% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,291 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 87.58% of the company’s stock.
Global Payments Trading Down 0.5 %
GPN stock opened at $117.35 on Friday. The firm has a fifty day moving average price of $106.07 and a 200 day moving average price of $112.64. Global Payments Inc. has a fifty-two week low of $92.27 and a fifty-two week high of $146.71. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 0.92. The firm has a market cap of $31.73 billion, a PE ratio of 266.71, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99.
Global Payments (NYSE:GPN – Get Rating) last posted its quarterly earnings data on Friday, February 10th. The business services provider reported $2.42 EPS for the quarter, topping the consensus estimate of $2.34 by $0.08. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.02 billion. Global Payments had a net margin of 1.24% and a return on equity of 10.30%. Global Payments’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.03 earnings per share. Sell-side analysts anticipate that Global Payments Inc. will post 9.87 earnings per share for the current fiscal year.
Global Payments Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, March 16th. Global Payments’s payout ratio is 227.28%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on GPN shares. BNP Paribas cut shares of Global Payments from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 3rd. Moffett Nathanson lowered their price target on shares of Global Payments to $135.00 in a report on Friday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Global Payments from $188.00 to $155.00 in a report on Tuesday, December 20th. Credit Suisse Group decreased their price objective on shares of Global Payments from $145.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, November 1st. Finally, Stephens restated an “overweight” rating and issued a $135.00 price objective on shares of Global Payments in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.12.
Insiders Place Their Bets
In related news, Director Robert H. B. Baldwin, Jr. bought 3,400 shares of the stock in a transaction dated Monday, December 12th. The stock was purchased at an average cost of $98.62 per share, with a total value of $335,308.00. Following the completion of the purchase, the director now owns 38,940 shares of the company’s stock, valued at $3,840,262.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.19% of the stock is owned by insiders.
About Global Payments
Global Payments, Inc engages in the provision of payment technology and software solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions. The Merchant Solutions segment provides payments technology and software solutions to customers globally.
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