Global Payments Inc. (NYSE:GPN) is Synovus Financial Corp's Largest Position

Synovus Financial Corp trimmed its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,517,599 shares of the business services provider's stock after selling 51,165 shares during the quarter. Global Payments comprises approximately 10.7% of Synovus Financial Corp's portfolio, making the stock its biggest position. Synovus Financial Corp owned about 2.95% of Global Payments worth $842,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in Global Payments during the 3rd quarter valued at $209,000. MML Investors Services LLC lifted its holdings in Global Payments by 7.1% in the third quarter. MML Investors Services LLC now owns 21,169 shares of the business services provider's stock valued at $2,168,000 after acquiring an additional 1,397 shares during the period. Virtu Financial LLC boosted its position in Global Payments by 79.4% in the third quarter. Virtu Financial LLC now owns 32,107 shares of the business services provider's stock worth $3,288,000 after purchasing an additional 14,212 shares during the last quarter. SkyView Investment Advisors LLC increased its position in shares of Global Payments by 5.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 5,315 shares of the business services provider's stock valued at $544,000 after purchasing an additional 280 shares during the last quarter. Finally, Boyar Asset Management Inc. boosted its holdings in shares of Global Payments by 22.4% in the third quarter. Boyar Asset Management Inc. now owns 8,329 shares of the business services provider's stock worth $853,000 after buying an additional 1,525 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

Global Payments Stock Performance

Shares of NYSE GPN traded down $14.62 during trading on Friday, reaching $69.50. 17,553,278 shares of the company traded hands, compared to its average volume of 2,313,527. Global Payments Inc. has a 12-month low of $68.48 and a 12-month high of $127.66. 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 stock has a market cap of $17.09 billion, a P/E ratio of 11.25, a PEG ratio of 0.86 and a beta of 0.97. The firm's fifty day simple moving average is $96.25 and its 200 day simple moving average is $105.09.

Global Payments (NYSE:GPN - Get Free Report) last announced 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 firm 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%. As a group, research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, March 14th. Global Payments's dividend payout ratio (DPR) is presently 16.18%.

Analyst Ratings Changes

A number of brokerages have commented on GPN. Citigroup reduced their price target on Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Barclays lowered 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. Williams Trading set a $75.00 price objective on shares of Global Payments in a research report on Friday. Evercore ISI began coverage on Global Payments in a report on Wednesday, April 9th. They set an "in-line" rating and a $85.00 price target on the stock. Finally, Bank of America decreased their target price on Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Global Payments currently has an average rating of "Hold" and a consensus price target of $124.73.

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.