Charles Schwab Investment Management Inc. Has $180.93 Million Stock Position in Global Payments Inc. (NYSE:GPN)

Charles Schwab Investment Management Inc. lifted its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,614,533 shares of the business services provider's stock after purchasing an additional 72,992 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of Global Payments worth $180,925,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Pzena Investment Management LLC grew its stake in shares of Global Payments by 3.4% in the 3rd quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider's stock worth $679,952,000 after purchasing an additional 215,399 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Global Payments by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider's stock worth $605,078,000 after acquiring an additional 31,934 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Global Payments by 1.5% in the third quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider's stock worth $564,437,000 after acquiring an additional 83,481 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Global Payments by 13.4% in the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider's stock worth $330,516,000 after acquiring an additional 349,457 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Global Payments by 22.7% in the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider's stock worth $271,090,000 after acquiring an additional 490,411 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

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Insider Activity

In other news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of Global Payments stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the purchase, the director now directly owns 42,738 shares of the company's stock, valued at $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GPN shares. Bank of America decreased their price target on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a report on Friday, February 14th. Barclays decreased their price target on shares of Global Payments from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. StockNews.com upgraded shares of Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $122.00 target price (down from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. Finally, Morgan Stanley reduced their target price on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.33.

Global Payments Stock Performance

Global Payments stock traded up $0.65 during mid-day trading on Friday, reaching $100.79. The company had a trading volume of 2,108,734 shares, compared to its average volume of 2,078,074. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $140.38. The company has a 50 day moving average of $107.84 and a 200-day moving average of $108.72. The firm has a market cap of $24.96 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.86 and a beta of 1.04.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.14). The company had revenue of $2.29 billion during 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, sell-side analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, March 14th. Global Payments's dividend payout ratio (DPR) is presently 16.18%.

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.