Brandywine Global Investment Management LLC Sells 13,973 Shares of Global Payments Inc. (NYSE:GPN)

Brandywine Global Investment Management LLC cut its stake in shares of Global Payments Inc. (NYSE:GPN) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,325,312 shares of the business services provider’s stock after selling 13,973 shares during the quarter. Global Payments accounts for about 1.1% of Brandywine Global Investment Management LLC’s investment portfolio, making the stock its 17th largest holding. Brandywine Global Investment Management LLC owned approximately 0.52% of Global Payments worth $148,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of GPN. Cerity Partners LLC raised its stake in shares of Global Payments by 26.7% during the third quarter. Cerity Partners LLC now owns 23,136 shares of the business services provider’s stock valued at $2,370,000 after acquiring an additional 4,874 shares during the last quarter. Townsquare Capital LLC increased its holdings in Global Payments by 4.4% during the 3rd quarter. Townsquare Capital LLC now owns 3,892 shares of the business services provider’s stock valued at $399,000 after purchasing an additional 165 shares during the period. CreativeOne Wealth LLC bought a new position in Global Payments during the 3rd quarter valued at approximately $323,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Global Payments by 11.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 113,799 shares of the business services provider’s stock worth $11,655,000 after acquiring an additional 11,430 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in shares of Global Payments by 17.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,017 shares of the business services provider’s stock valued at $1,128,000 after purchasing an additional 1,600 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Stock Down 1.9 %

GPN opened at $97.55 on Friday. Global Payments Inc. has a 1-year low of $90.99 and a 1-year high of $133.63. The firm’s 50 day simple moving average is $103.72 and its two-hundred day simple moving average is $107.34. 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 $23.99 billion, a PE ratio of 15.79, a PEG ratio of 0.86 and a beta of 1.04.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. As a group, equities analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, March 14th. Global Payments’s dividend payout ratio (DPR) is presently 16.18%.

Wall Street Analyst Weigh In

GPN has been the subject of a number of recent research reports. Bank of America lowered their price target on shares of Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Morgan Stanley cut their target price on Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Barclays decreased their target price on shares of Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. The Goldman Sachs Group reiterated a “neutral” rating and set a $122.00 price target (down previously from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Finally, Citigroup decreased their price objective on shares of Global Payments from $138.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and a consensus price target of $134.33.

About Global Payments

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.