Oak Ridge Investments LLC reduced its holdings in Global Payments Inc (NYSE:GPN) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,896 shares of the business services provider’s stock after selling 1,350 shares during the period. Oak Ridge Investments LLC’s holdings in Global Payments were worth $4,627,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of GPN. Lunia Capital LP acquired a new stake in Global Payments in the fourth quarter valued at approximately $18,742,000. Norges Bank purchased a new stake in Global Payments in the fourth quarter valued at $131,343,000. Boston Partners purchased a new stake in Global Payments in the fourth quarter valued at $122,196,000. Coho Partners Ltd. purchased a new stake in Global Payments in the first quarter valued at $118,168,000. Finally, Massachusetts Financial Services Co. MA raised its position in Global Payments by 9.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,447,043 shares of the business services provider’s stock valued at $561,752,000 after purchasing an additional 449,751 shares during the period. 99.32% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on GPN shares. Zacks Investment Research upgraded Global Payments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 6th. Nomura lifted their price objective on Global Payments from $91.00 to $94.00 and gave the company a “reduce” rating in a research note on Monday, February 11th. ValuEngine raised Global Payments from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. reaffirmed an “outperform” rating and issued a $143.00 price objective (up from $130.00) on shares of Global Payments in a research note on Thursday, February 14th. Finally, KeyCorp lifted their price objective on Global Payments from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, February 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $143.10.
GPN traded up $5.48 on Friday, hitting $153.44. 5,332,569 shares of the company were exchanged, compared to its average volume of 1,137,579. Global Payments Inc has a twelve month low of $94.81 and a twelve month high of $152.24. The stock has a market capitalization of $24.12 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 1.53 and a beta of 1.20. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.03 and a quick ratio of 1.03.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, May 2nd. The business services provider reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.12. Global Payments had a return on equity of 19.83% and a net margin of 13.69%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $1.13 EPS. Global Payments’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Global Payments Inc will post 5.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.04 annualized dividend and a yield of 0.03%. Global Payments’s payout ratio is 0.77%.
Global Payments Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
Further Reading: Moving Average Convergence Divergence (MACD)
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