Poplar Forest Capital LLC bought a new stake in Global Payments Inc. (NYSE:GPN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 128,729 shares of the business services provider's stock, valued at approximately $13,184,000. Global Payments accounts for about 1.8% of Poplar Forest Capital LLC's portfolio, making the stock its 26th biggest holding. Poplar Forest Capital LLC owned 0.05% of Global Payments at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group acquired a new position in shares of Global Payments during the 1st quarter valued at $222,000. Duality Advisers LP acquired a new position in shares of Global Payments during the 1st quarter valued at $2,431,000. Empirical Finance LLC increased its position in shares of Global Payments by 3.3% during the 1st quarter. Empirical Finance LLC now owns 9,896 shares of the business services provider's stock valued at $1,323,000 after purchasing an additional 317 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Global Payments by 8.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,214 shares of the business services provider's stock valued at $1,365,000 after purchasing an additional 788 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Global Payments by 219.0% during the 1st quarter. Empowered Funds LLC now owns 10,317 shares of the business services provider's stock valued at $1,379,000 after purchasing an additional 7,083 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.
Global Payments Stock Down 1.9 %
NYSE:GPN traded down $2.21 during trading hours on Thursday, reaching $112.83. The company's stock had a trading volume of 824,239 shares, compared to its average volume of 2,286,025. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $28.71 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The business's 50-day moving average is $104.58 and its 200-day moving average is $103.83.
Global Payments (NYSE:GPN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.03. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the firm posted $2.48 EPS. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that Global Payments Inc. will post 11.04 EPS for the current year.
Global Payments Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.89%. Global Payments's dividend payout ratio (DPR) is presently 18.83%.
Wall Street Analysts Forecast Growth
GPN has been the topic of several research analyst reports. TD Cowen lowered their price target on Global Payments from $125.00 to $122.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada reduced their price objective on Global Payments from $143.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Oppenheimer started coverage on Global Payments in a research note on Tuesday, October 1st. They set a "market perform" rating for the company. BNP Paribas raised Global Payments to a "strong sell" rating in a research note on Wednesday, September 4th. Finally, Seaport Res Ptn lowered Global Payments from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.50.
View Our Latest Analysis on Global Payments
About Global Payments
(
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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