Global Payments Inc. (NYSE:GPN) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System trimmed its stake in Global Payments Inc. (NYSE:GPNFree Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,378 shares of the business services provider’s stock after selling 3,000 shares during the quarter. State of Michigan Retirement System’s holdings in Global Payments were worth $10,970,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BluePath Capital Management LLC purchased a new stake in Global Payments during the third quarter valued at about $27,000. Clear Street Markets LLC purchased a new stake in shares of Global Payments in the fourth quarter worth about $27,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Global Payments in the fourth quarter worth about $41,000. CVA Family Office LLC purchased a new stake in shares of Global Payments in the fourth quarter worth about $50,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Global Payments in the third quarter worth about $47,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Trading Down 1.4 %

Shares of NYSE:GPN opened at $128.36 on Wednesday. The company has a 50 day moving average of $133.02 and a 200-day moving average of $123.74. The firm has a market cap of $32.74 billion, a P/E ratio of 33.96, a P/E/G ratio of 0.83 and a beta of 0.96. Global Payments Inc. has a twelve month low of $95.12 and a twelve month high of $141.77. 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 (NYSE:GPNGet Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.18 billion. Global Payments had a net margin of 10.22% and a return on equity of 11.44%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.30 EPS. As a group, analysts anticipate that Global Payments Inc. will post 10.94 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.78%. Global Payments’s dividend payout ratio is currently 26.46%.

Analysts Set New Price Targets

GPN has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Global Payments from $154.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. TheStreet raised Global Payments from a “c” rating to a “b-” rating in a research report on Thursday, February 1st. Susquehanna upped their target price on Global Payments from $150.00 to $160.00 and gave the stock a “positive” rating in a research report on Thursday, February 15th. Robert W. Baird upped their target price on Global Payments from $162.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Finally, Mizuho reissued a “neutral” rating and issued a $129.00 price target on shares of Global Payments in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.92.

Read Our Latest Stock Report on GPN

Global Payments Profile

(Free Report)

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

Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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