Amundi Asset Management US Inc. reduced its stake in shares of Global Payments Inc. (NYSE:GPN) by 0.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 677,438 shares of the business services provider’s stock after selling 6,160 shares during the period. Amundi Asset Management US Inc. owned approximately 0.23% of Global Payments worth $136,558,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of GPN. Asio Capital LLC lifted its position in Global Payments by 46.1% in the 1st quarter. Asio Capital LLC now owns 12,179 shares of the business services provider’s stock worth $2,455,000 after buying an additional 3,842 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Global Payments by 260.9% in the 1st quarter. Itau Unibanco Holding S.A. now owns 27,420 shares of the business services provider’s stock valued at $5,527,000 after purchasing an additional 19,823 shares in the last quarter. Sculptor Capital LP bought a new position in shares of Global Payments during the 1st quarter valued at $104,623,000. Cloverfields Capital Group LP raised its position in Global Payments by 38.4% in the 1st quarter. Cloverfields Capital Group LP now owns 8,503 shares of the business services provider’s stock worth $1,714,000 after purchasing an additional 2,360 shares during the period. Finally, GWM Advisors LLC lifted its stake in Global Payments by 10.1% in the first quarter. GWM Advisors LLC now owns 6,505 shares of the business services provider’s stock worth $1,311,000 after purchasing an additional 596 shares during the last quarter. 85.76% of the stock is owned by institutional investors.
Several research firms have recently commented on GPN. Raymond James lifted their price objective on Global Payments from $237.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Oppenheimer increased their price objective on Global Payments from $231.00 to $233.00 and gave the company an “outperform” rating in a research note on Friday, July 9th. Credit Suisse Group lifted their target price on shares of Global Payments from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 5th. Rosenblatt Securities raised their price target on shares of Global Payments from $235.00 to $238.00 and gave the stock a “buy” rating in a report on Tuesday, April 20th. Finally, Morgan Stanley increased their target price on shares of Global Payments from $209.00 to $216.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 5th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $220.80.
Shares of NYSE GPN opened at $191.81 on Thursday. Global Payments Inc. has a 1 year low of $153.33 and a 1 year high of $220.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.19. The company’s 50-day simple moving average is $192.69. The stock has a market cap of $56.63 billion, a PE ratio of 29.77, a P/E/G ratio of 1.29 and a beta of 1.19.
Global Payments (NYSE:GPN) last released its earnings results on Tuesday, May 4th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.15. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.77 billion. Global Payments had a net margin of 8.49% and a return on equity of 6.91%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $1.58 earnings per share. On average, research analysts anticipate that Global Payments Inc. will post 7.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 25th. Investors of record on Friday, June 11th were paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Thursday, June 10th. Global Payments’s payout ratio is 12.98%.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. The company operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.
Featured Article: What is a good rate of return for a mutual fund?
Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.