State of Tennessee Department of Treasury Has $7.71 Million Position in Global Payments Inc. (NYSE:GPN)

State of Tennessee Department of Treasury cut its holdings in Global Payments Inc. (NYSE:GPN) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,817 shares of the business services provider’s stock after selling 2,869 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Global Payments were worth $7,712,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GPN. Virtu Financial LLC raised its stake in shares of Global Payments by 79.4% in the 3rd quarter. Virtu Financial LLC now owns 32,107 shares of the business services provider’s stock valued at $3,288,000 after acquiring an additional 14,212 shares in the last quarter. SkyView Investment Advisors LLC raised its position in shares of Global Payments by 5.6% in the third quarter. SkyView Investment Advisors LLC now owns 5,315 shares of the business services provider’s stock valued at $544,000 after purchasing an additional 280 shares during the period. Boyar Asset Management Inc. lifted its stake in shares of Global Payments by 22.4% in the third quarter. Boyar Asset Management Inc. now owns 8,329 shares of the business services provider’s stock worth $853,000 after buying an additional 1,525 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Global Payments by 24.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 44,394 shares of the business services provider’s stock worth $4,547,000 after buying an additional 8,677 shares during the period. Finally, Peapack Gladstone Financial Corp acquired a new position in Global Payments in the 3rd quarter valued at $253,000. 89.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GPN shares. KeyCorp cut their target price on shares of Global Payments from $145.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup restated a “buy” rating on shares of Global Payments in a research note on Monday. Stephens downgraded Global Payments from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $125.00 to $120.00 in a research report on Friday, January 10th. Bank of America reduced their price objective on Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $122.00 target price (down previously from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $114.86.

Global Payments Trading Up 0.3 %

Shares of GPN stock opened at $71.95 on Friday. The company has a market capitalization of $17.69 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.86 and a beta of 0.97. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $127.06. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $92.66 and a 200 day moving average price of $104.12.

Global Payments (NYSE:GPN) last announced its earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.14). Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Research analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. Global Payments’s dividend payout ratio (DPR) is presently 16.18%.

Global Payments Profile

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.