Meitav Dash Investments Ltd. purchased a new stake in shares of Global Payments Inc (NYSE:GPN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,228 shares of the business services provider’s stock, valued at approximately $407,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evoke Wealth LLC bought a new stake in shares of Global Payments in the 3rd quarter valued at approximately $30,000. Resources Management Corp CT ADV acquired a new position in shares of Global Payments during the third quarter valued at $32,000. CWM LLC raised its position in shares of Global Payments by 81.8% during the 3rd quarter. CWM LLC now owns 220 shares of the business services provider’s stock worth $35,000 after buying an additional 99 shares in the last quarter. Quest Capital Management Inc. ADV bought a new stake in Global Payments during the third quarter worth approximately $37,000. Finally, MUFG Americas Holdings Corp acquired a new stake in Global Payments in the third quarter worth approximately $41,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on GPN shares. Morgan Stanley increased their target price on shares of Global Payments from $137.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Cantor Fitzgerald boosted their price target on Global Payments from $196.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. BMO Capital Markets upped their price target on Global Payments from $162.00 to $186.00 and gave the stock a “market perform” rating in a research note on Monday, November 4th. They noted that the move was a valuation call. Susquehanna Bancshares increased their price objective on Global Payments from to and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Co raised their price objective on Global Payments from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $210.42.
Shares of GPN stock traded down $5.81 on Thursday, reaching $183.84. 2,429,395 shares of the stock were exchanged, compared to its average volume of 1,691,552. The stock has a 50 day moving average price of $199.06 and a 200 day moving average price of $176.77. The stock has a market cap of $57.29 billion, a PE ratio of 77.90, a P/E/G ratio of 1.46 and a beta of 1.00. Global Payments Inc has a one year low of $127.63 and a one year high of $209.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.22 and a quick ratio of 1.17.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.11. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.06 billion. Global Payments had a return on equity of 7.25% and a net margin of 8.77%. The company’s revenue was up 125.7% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share. On average, research analysts expect that Global Payments Inc will post 7.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is a boost from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.78 annualized dividend and a dividend yield of 0.42%. Global Payments’s dividend payout ratio is 13.31%.
In other news, Director Ruth Ann Marshall sold 4,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $203.51, for a total value of $814,040.00. Following the transaction, the director now directly owns 42,799 shares of the company’s stock, valued at approximately $8,710,024.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joia M. Johnson bought 560 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average price of $178.45 per share, for a total transaction of $99,932.00. Following the transaction, the director now owns 2,347 shares in the company, valued at $418,822.15. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 5,200 shares of company stock valued at $1,038,080. 0.88% of the stock is currently owned by corporate insiders.
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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