Federated Hermes Inc. Decreases Position in Global Payments Inc. (NYSE:GPN)

Federated Hermes Inc. decreased its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 49.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,388 shares of the business services provider's stock after selling 107,876 shares during the quarter. Federated Hermes Inc.'s holdings in Global Payments were worth $12,482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC purchased a new stake in shares of Global Payments in the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC purchased a new position in shares of Global Payments in the 4th quarter valued at $37,000. Quintet Private Bank Europe S.A. bought a new position in shares of Global Payments in the 4th quarter worth $38,000. Manchester Capital Management LLC lifted its stake in shares of Global Payments by 177.5% during the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock worth $53,000 after purchasing an additional 300 shares during the last quarter. Finally, LRI Investments LLC grew its stake in Global Payments by 94.4% in the third quarter. LRI Investments LLC now owns 517 shares of the business services provider's stock valued at $53,000 after purchasing an additional 251 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Stock Performance

GPN stock traded up $0.53 during midday trading on Tuesday, hitting $85.59. 345,194 shares of the stock traded hands, compared to its average volume of 2,235,106. The stock's fifty day simple moving average is $98.06 and its 200-day simple moving average is $105.60. The firm has a market cap of $21.04 billion, a P/E ratio of 13.84, a PEG ratio of 0.86 and a beta of 0.97. Global Payments Inc. has a 1-year low of $77.83 and a 1-year high of $127.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93.

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Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. On average, analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Global Payments's dividend payout ratio is currently 16.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their target price on Global Payments from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Morgan Stanley decreased their price target on Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Stephens lowered Global Payments from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. Finally, Evercore ISI started coverage on shares of Global Payments in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $129.81.

Global Payments 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.