Planned Solutions Inc. purchased a new position in shares of Global Payments Inc. (NYSE:GPN – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 515 shares of the business services provider’s stock, valued at approximately $65,000.
A number of other hedge funds also recently modified their holdings of GPN. FMR LLC grew its holdings in shares of Global Payments by 40.7% during the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock worth $1,078,525,000 after buying an additional 2,703,434 shares in the last quarter. Norges Bank bought a new position in shares of Global Payments during the fourth quarter worth about $261,300,000. Ameriprise Financial Inc. grew its holdings in shares of Global Payments by 338.3% during the third quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock worth $379,416,000 after buying an additional 2,537,941 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of Global Payments during the third quarter worth about $197,875,000. Finally, Boston Partners grew its holdings in shares of Global Payments by 40.5% during the third quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock worth $591,613,000 after buying an additional 1,481,714 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on GPN. Mizuho restated a “neutral” rating and issued a $129.00 price target on shares of Global Payments in a research note on Wednesday. BMO Capital Markets decreased their price target on Global Payments from $138.00 to $137.00 and set a “market perform” rating for the company in a research note on Thursday, February 15th. Evercore ISI decreased their price target on Global Payments from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. KeyCorp raised their price target on Global Payments from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Finally, Barclays raised their price target on Global Payments from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and an average price target of $151.92.
Read Our Latest Stock Analysis on Global Payments
Global Payments Stock Performance
NYSE:GPN opened at $133.66 on Friday. The stock has a market cap of $34.10 billion, a P/E ratio of 35.36, a PEG ratio of 0.86 and a beta of 0.96. The stock has a 50 day simple moving average of $132.86 and a 200 day simple moving average of $123.60. 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.
Global Payments (NYSE:GPN – Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.01. The firm had revenue of $2.43 billion during 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 company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.30 EPS. Research analysts anticipate that Global Payments Inc. will post 10.94 earnings per share for the current year.
Global Payments Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.00 annualized dividend and a yield of 0.75%. Global Payments’s dividend payout ratio is presently 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.
See Also
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