Stevens Capital Management LP acquired a new position in Global Payments Inc (NYSE:GPN) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 36,392 shares of the business services provider’s stock, valued at approximately $5,827,000.
A number of other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Global Payments by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 749,934 shares of the business services provider’s stock valued at $77,341,000 after purchasing an additional 19,347 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Global Payments by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 1,969,663 shares of the business services provider’s stock valued at $202,756,000 after purchasing an additional 128,466 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Global Payments by 0.6% in the 1st quarter. Retirement Systems of Alabama now owns 73,388 shares of the business services provider’s stock valued at $10,019,000 after purchasing an additional 439 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Global Payments in the 1st quarter valued at about $229,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Global Payments in the 1st quarter valued at about $273,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.
A number of brokerages have recently issued reports on GPN. BMO Capital Markets lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and upped their target price for the company from $164.00 to $173.00 in a research note on Wednesday, May 29th. SunTrust Banks set a $190.00 price objective on shares of Global Payments and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of Global Payments from $174.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Bank of America boosted their price objective on shares of Global Payments from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Finally, Oppenheimer boosted their price objective on shares of Global Payments from $161.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $164.74.
NYSE GPN traded down $4.32 on Wednesday, hitting $154.47. The stock had a trading volume of 18,267 shares, compared to its average volume of 1,343,203. Global Payments Inc has a one year low of $94.81 and a one year high of $172.20. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $25.08 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01. The firm’s 50-day simple moving average is $162.83.
Global Payments (NYSE:GPN) last posted its earnings results on Tuesday, July 30th. The business services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.46 by $0.05. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. Global Payments’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts predict that Global Payments Inc will post 5.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. Global Payments’s dividend payout ratio (DPR) 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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