Global Payments Inc. $GPN Stock: Pzena Investment Management LLC Trims Position

Pzena Investment Management LLC lowered its stake in shares of Global Payments Inc. (NYSE:GPN) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,377,172 shares of the business services provider’s stock after selling 314,453 shares during the period. Global Payments accounts for approximately 2.8% of Pzena Investment Management LLC’s portfolio, making the stock its 11th biggest holding. Pzena Investment Management LLC’s holdings in Global Payments were worth $929,174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gtcr LLC acquired a new position in Global Payments in the 1st quarter valued at about $2,911,939,000. Dimensional Fund Advisors LP lifted its holdings in Global Payments by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,117,172 shares of the business services provider’s stock valued at $142,478,000 after purchasing an additional 23,293 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Global Payments during the 2nd quarter worth about $138,781,000. Legal & General Group Plc acquired a new stake in shares of Global Payments during the 2nd quarter worth about $120,036,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Global Payments by 14.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,634,962 shares of the business services provider’s stock worth $110,033,000 after buying an additional 203,855 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Trading Down 1.9%

NYSE GPN opened at $96.11 on Thursday. Global Payments Inc. has a one year low of $61.16 and a one year high of $101.32. The company’s 50 day moving average price is $86.57 and its 200 day moving average price is $77.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $25.43 billion, a price-to-earnings ratio of -32.25, a PEG ratio of 0.48 and a beta of 0.83.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, August 5th. The business services provider reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.02. Global Payments had a negative net margin of 9.16% and a positive return on equity of 13.80%. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the company posted $3.10 earnings per share. Global Payments’s revenue was up 68.6% compared to the same quarter last year. On average, sell-side analysts predict that Global Payments Inc. will post 13.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GPN. Loop Capital initiated coverage on shares of Global Payments in a research report on Thursday, September 24th. They issued a “buy” rating and a $137.00 price objective for the company. HC Wainwright initiated coverage on shares of Global Payments in a research note on Thursday, August 6th. They issued a “buy” rating for the company. William Blair reaffirmed a “market perform” rating on shares of Global Payments in a research note on Friday, October 30th. Wolfe Research reiterated an “outperform” rating and issued a $125.00 price target (up from $110.00) on shares of Global Payments in a report on Tuesday, August 25th. Finally, Wells Fargo & Company reduced their price target on Global Payments from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.55.

Global Payments Company Profile

Global Payments Inc (NYSE:GPN) is a financial technology and payments company that provides software and payment solutions to businesses, financial institutions and other organizations. Its services help merchants accept payments through credit cards, debit cards, digital wallets and other electronic methods across in-store, online and mobile channels.

The company offers payment processing, point-of-sale technology, commerce management software, payment security and reporting tools. Its solutions are used in industries including retail, restaurants, hospitality, healthcare, education and government.