Assenagon Asset Management S.A. cut its stake in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 98.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,662 shares of the business services provider’s stock after selling 244,665 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Global Payments were worth $592,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Global Payments by 40.7% in the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock valued at $1,078,525,000 after buying an additional 2,703,434 shares in the last quarter. Norges Bank acquired a new stake in shares of Global Payments in the fourth quarter valued at $261,300,000. Ameriprise Financial Inc. increased its stake in shares of Global Payments by 338.3% in the third quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock valued at $379,416,000 after buying an additional 2,537,941 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Global Payments in the third quarter valued at $197,875,000. Finally, Boston Partners increased its stake in shares of Global Payments by 40.5% in the third quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock valued at $591,613,000 after buying an additional 1,481,714 shares in the last quarter. 89.76% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently weighed in on GPN. B. Riley increased their price objective on shares of Global Payments from $180.00 to $186.00 and gave the company a “buy” rating in a report on Monday, February 5th. BMO Capital Markets reduced their price target on Global Payments from $138.00 to $137.00 and set a “market perform” rating on the stock in a research report on Thursday, February 15th. Robert W. Baird upped their price objective on Global Payments from $162.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. raised their target price on Global Payments from $145.00 to $159.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $129.00 price target on shares of Global Payments in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $151.92.
Check Out Our Latest Analysis on GPN
Global Payments Stock Performance
Shares of NYSE GPN opened at $125.92 on Monday. The stock has a market cap of $32.12 billion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 0.81 and a beta of 0.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67. Global Payments Inc. has a 1-year low of $95.12 and a 1-year high of $141.77. The stock’s 50-day moving average is $132.62 and its 200 day moving average is $123.84.
Global Payments (NYSE:GPN – Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Global Payments had a return on equity of 11.44% and a net margin of 10.22%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.30 EPS. On average, sell-side analysts anticipate that Global Payments Inc. will post 10.94 EPS for the current fiscal year.
Global Payments Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. Global Payments’s dividend payout ratio is currently 26.46%.
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.
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