Earnest Partners LLC trimmed its position in Global Payments Inc (NYSE:GPN) by 19.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,911 shares of the business services provider’s stock after selling 115,162 shares during the quarter. Earnest Partners LLC owned approximately 0.31% of Global Payments worth $77,489,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Global Payments by 4.3% in the second quarter. BlackRock Inc. now owns 11,019,167 shares of the business services provider’s stock worth $1,764,501,000 after buying an additional 452,606 shares during the period. Caldera Capital LLC boosted its holdings in shares of Global Payments by 149.1% in the second quarter. Caldera Capital LLC now owns 26,410 shares of the business services provider’s stock worth $4,229,000 after buying an additional 15,809 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Global Payments by 0.8% in the second quarter. HighTower Advisors LLC now owns 9,445 shares of the business services provider’s stock worth $1,508,000 after buying an additional 74 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of Global Payments in the second quarter worth about $35,000. Finally, Breakline Capital LLC boosted its holdings in shares of Global Payments by 52.0% in the second quarter. Breakline Capital LLC now owns 37,720 shares of the business services provider’s stock worth $6,040,000 after buying an additional 12,911 shares during the period. Institutional investors own 97.07% of the company’s stock.
Several brokerages have commented on GPN. Barclays raised their target price on shares of Global Payments from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. BMO Capital Markets cut shares of Global Payments from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $164.00 to $173.00 in a report on Wednesday, May 29th. Deutsche Bank raised their target price on shares of Global Payments from $162.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Nomura raised their target price on shares of Global Payments from $105.00 to $120.00 and gave the stock a “reduce” rating in a report on Tuesday, August 6th. Finally, KeyCorp raised their target price on shares of Global Payments from $160.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $167.70.
Shares of NYSE GPN opened at $167.55 on Friday. The stock has a market cap of $26.25 billion, a PE ratio of 32.28, a PEG ratio of 1.68 and a beta of 1.02. The business has a fifty day moving average of $163.30 and a two-hundred day moving average of $151.22. Global Payments Inc has a 52-week low of $94.81 and a 52-week high of $175.95. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.01 and a current ratio of 1.01.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.05. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Global Payments had a return on equity of 20.36% and a net margin of 13.62%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $1.29 earnings per share. Analysts predict that Global Payments Inc will post 5.82 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Global Payments’s dividend 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.
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