Dynamic Technology Lab Private Ltd Purchases New Position in Global Payments Inc. (NYSE:GPN)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Global Payments Inc. (NYSE:GPN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,621 shares of the business services provider’s stock, valued at approximately $587,000.

Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Global Payments by 40.7% in the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock worth $1,078,525,000 after acquiring an additional 2,703,434 shares during the last quarter. Boston Partners boosted its position in Global Payments by 40.5% during the third quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock worth $591,613,000 after acquiring an additional 1,481,714 shares during the last quarter. Victory Capital Management Inc. boosted its position in Global Payments by 3.4% during the third quarter. Victory Capital Management Inc. now owns 3,499,860 shares of the business services provider’s stock worth $403,849,000 after acquiring an additional 116,664 shares during the last quarter. Morgan Stanley grew its stake in Global Payments by 2.7% during the 3rd quarter. Morgan Stanley now owns 3,402,869 shares of the business services provider’s stock valued at $392,657,000 after acquiring an additional 89,057 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Global Payments by 338.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock valued at $379,416,000 after acquiring an additional 2,537,941 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Global Payments

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares in the company, valued at approximately $2,806,770.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

GPN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Global Payments from $145.00 to $159.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Barclays cut their price objective on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Monness Crespi & Hardt decreased their target price on shares of Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. BMO Capital Markets cut their price target on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Finally, Susquehanna decreased their price objective on Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.11.

Global Payments Stock Down 2.9 %

Shares of NYSE:GPN opened at $103.24 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $26.35 billion, a P/E ratio of 20.48, a P/E/G ratio of 0.68 and a beta of 0.97. Global Payments Inc. has a 1-year low of $95.12 and a 1-year high of $141.77. The firm has a fifty day moving average price of $121.39 and a 200 day moving average price of $124.64.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.07. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Sell-side analysts predict that Global Payments Inc. will post 11.08 EPS for the current year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 0.97%. Global Payments’s dividend payout ratio is currently 19.84%.

Global Payments Company 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.