74,585 Shares in Global Payments Inc. (NYSE:GPN) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 74,585 shares of the business services provider's stock, valued at approximately $8,361,000.

A number of other hedge funds have also bought and sold shares of the business. Landscape Capital Management L.L.C. raised its position in Global Payments by 24.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 12,823 shares of the business services provider's stock worth $1,437,000 after acquiring an additional 2,497 shares during the period. Huntington National Bank raised its holdings in shares of Global Payments by 38.4% in the 4th quarter. Huntington National Bank now owns 1,733 shares of the business services provider's stock worth $194,000 after purchasing an additional 481 shares during the period. Discovery Capital Management LLC CT bought a new stake in shares of Global Payments in the 4th quarter worth approximately $30,738,000. Geode Capital Management LLC lifted its stake in Global Payments by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 6,230,322 shares of the business services provider's stock valued at $696,362,000 after purchasing an additional 301,877 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Global Payments by 56.0% during the fourth quarter. National Bank of Canada FI now owns 204,216 shares of the business services provider's stock valued at $22,885,000 after purchasing an additional 73,300 shares during the period. 89.76% of the stock is currently owned by institutional investors.

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Global Payments Price Performance

Shares of GPN traded up $1.75 during midday trading on Friday, reaching $84.99. The stock had a trading volume of 2,832,818 shares, compared to its average volume of 2,242,705. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. The company's 50-day moving average is $98.59 and its 200 day moving average is $105.71. Global Payments Inc. has a 12-month low of $77.83 and a 12-month high of $127.66.

Global Payments (NYSE:GPN - Get Free Report) last issued its earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.14). The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. On average, equities analysts predict 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 was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, March 14th. Global Payments's payout ratio is presently 16.18%.

Analyst Ratings Changes

A number of brokerages have recently commented on GPN. Bank of America dropped their price target on Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Citigroup cut their target price on shares of Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a research 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. Morgan Stanley dropped their price target on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, Barclays reduced their price objective on shares of Global Payments from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Global Payments presently has an average rating of "Hold" and an average target price of $130.52.

Global Payments Company 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.