Legal & General Group Plc cut its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 23.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,477,101 shares of the business services provider's stock after selling 444,780 shares during the quarter. Legal & General Group Plc owned about 0.58% of Global Payments worth $165,524,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in GPN. Beaird Harris Wealth Management LLC purchased a new position in shares of Global Payments during the 3rd quarter worth about $25,000. Whipplewood Advisors LLC acquired a new position in shares of Global Payments in the 4th quarter valued at $37,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Global Payments in the 4th quarter valued at $38,000. LRI Investments LLC grew its stake in shares of Global Payments by 94.4% during the 3rd quarter. LRI Investments LLC now owns 517 shares of the business services provider's stock valued at $53,000 after buying an additional 251 shares during the period. Finally, Manchester Capital Management LLC increased its holdings 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 buying an additional 300 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.
Global Payments Stock Performance
GPN traded up $0.67 during trading hours on Tuesday, hitting $85.73. The company's stock had a trading volume of 396,293 shares, compared to its average volume of 2,288,600. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Global Payments Inc. has a fifty-two week low of $77.83 and a fifty-two week high of $127.66. The company has a 50-day simple moving average of $98.06 and a 200 day simple moving average of $105.60. The firm has a market capitalization of $21.08 billion, a PE ratio of 13.87, a PEG ratio of 0.86 and a beta of 0.97.
Global Payments (NYSE:GPN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. As a group, sell-side analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.
Global Payments Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Global Payments's dividend payout ratio is presently 16.18%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Stephens downgraded Global Payments from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $125.00 to $120.00 in a research report on Friday, January 10th. Evercore ISI started coverage on shares of Global Payments in a research report on Wednesday, April 9th. They set an "in-line" rating and a $85.00 target price for the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $122.00 price target (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Morgan Stanley reduced their target price 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. Finally, Barclays cut their price target on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $129.81.
Read Our Latest Analysis on Global Payments
Global Payments Profile
(
Free Report)
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.
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