Global Payments Inc. (NYSE:GPN) Stock Position Boosted by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 25.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,298,846 shares of the business services provider's stock after buying an additional 1,659,984 shares during the period. Global Payments makes up 3.2% of Pzena Investment Management LLC's holdings, making the stock its 8th biggest position. Pzena Investment Management LLC owned 3.26% of Global Payments worth $929,969,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in shares of Global Payments by 295.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the business services provider's stock worth $74,000 after purchasing an additional 541 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Global Payments by 2.7% during the third quarter. Janney Montgomery Scott LLC now owns 25,830 shares of the business services provider's stock worth $2,646,000 after buying an additional 670 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Global Payments by 10.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,942 shares of the business services provider's stock valued at $1,018,000 after buying an additional 952 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Global Payments by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 299,137 shares of the business services provider's stock valued at $30,638,000 after buying an additional 8,078 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Global Payments in the 3rd quarter worth $33,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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Global Payments Stock Down 0.8 %

NYSE GPN traded down $0.74 on Thursday, hitting $92.16. 3,094,715 shares of the stock were exchanged, compared to its average volume of 2,071,489. Global Payments Inc. has a fifty-two week low of $90.99 and a fifty-two week high of $136.36. The company has a 50-day moving average price of $106.42 and a 200-day moving average price of $108.29. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The company has a market cap of $22.82 billion, a PE ratio of 14.91, a PEG ratio of 0.86 and a beta of 1.04.

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 the consensus estimate of $2.98 by ($0.14). The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. Sell-side analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, March 14th. Global Payments's dividend payout ratio (DPR) is presently 16.18%.

Insider Buying and Selling

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of Global Payments stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $116.00 per share, with a total value of $672,800.00. Following the completion of the transaction, the director now directly owns 42,738 shares in the company, valued at approximately $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 accessible through this hyperlink. 0.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GPN shares. Bank of America lowered their price target on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. StockNews.com raised shares of Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Citigroup reduced their price target on shares of Global Payments from $138.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. Barclays decreased their price objective on Global Payments from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $122.00 target price (down previously from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $134.33.

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.