Byrne Asset Management LLC bought a new position in Global Payments Inc. (NYSE: GPN – Get Rating) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,410 shares of the business services provider’s stock, valued at approximately $ 326,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Global Payments by 3.5% during the fourth quarter. State Street Corp now owns 11,472,284 shares of the business services provider’s stock valued at $ 1,550,823,000 after acquiring an additional 387,950 shares during the period. Geode Capital Management LLC raised its holdings in shares of Global Payments by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 4,766,200 shares of the business services provider’s stock valued at $ 642,546,000 after acquiring an additional 208,681 shares during the period. Boston Partners raised its holdings in shares of Global Payments by 68.2% during the fourth quarter. Boston Partners now owns 4,705,549 shares of the business services provider’s stock valued at $ 636,935,000 after acquiring an additional 1,908,708 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Global Payments by 2,266.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,895,022 shares of the business services provider’s stock valued at $ 391,349,000 after acquiring an additional 2,772,706 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Global Payments by 3.4% during the third quarter. Janus Henderson Group PLC now owns 2,808,293 shares of the business services provider’s stock valued at $ 442,532,000 after acquiring an additional 93,042 shares during the period. Institutional investors and hedge funds own 84.53% of the company stock.
GPN has been the topic of several research reports. Citigroup dropped their objective price on shares of Global Payments from $ 195.00 to $ 180.00 in a research note on Monday, April 25th. Mizuho dropped their price objective on shares of Global Payments from $ 155.00 to $ 148.00 in a research note on Tuesday, May 3rd. Barclays dropped their objective price on shares of Global Payments from $ 182.00 to $ 160.00 in a research note on Tuesday, May 3rd. Wells Fargo & Company initiated coverage on shares of Global Payments in a research note on Monday, April 4th. They issued an “overweight” rating and a $ 194.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Global Payments in a research note on Tuesday, May 17th. They issued a “neutral” rating and a $ 151.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $ 186.74.
NYSE: GPN opened at $ 106.98 on Friday. The stock has a market cap of $ 30.12 billion, a P / E ratio of 30.65, a PEG ratio of 0.72 and a beta of 0.99. Global Payments Inc. has a one year low of $ 105.52 and a one year high of $ 196.88. The company has a fifty day moving average price of $ 128.00 and a 200 day moving average price of $ 133.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.06 and a quick ratio of 1.06.
Global Payments (NYSE: GPN – Get Rating) last released its earnings results on Monday, May 2nd. The business services provider reported $ 1.97 EPS for the quarter, beating the consensus estimate of $ 1.92 by $ 0.05. Global Payments had a net margin of 11.66% and a return on equity of 8.79%. The firm had revenue of $ 2.16 billion during the quarter, compared to analysts’ expectations of $ 1.95 billion. During the same period in the prior year, the company earned $ 1.72 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Global Payments Inc. will post 9.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 10th will be paid a $ 0.25 dividend. This represents a $ 1.00 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, June 9th. Global Payments’s dividend payout ratio is 28.65%.
In other news, EVP David Lawrence Green sold 16,252 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $ 130.10, for a total value of $ 2,114,385.20. Following the completion of the transaction, the executive vice president now owns 97,818 shares in the company, valued at approximately $ 12,726,121.80. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.19% of the company stock.
Global Payments Profile: (Get Rating)
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.
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