Norges Bank Buys New Holdings in Global Payments Inc. (NYSE:GPN)

Norges Bank purchased a new position in shares of Global Payments Inc. (NYSE:GPNFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,881,361 shares of the business services provider’s stock, valued at approximately $365,933,000. Norges Bank owned about 1.11% of Global Payments at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPN. FMR LLC increased 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 buying an additional 2,703,434 shares during the period. Ameriprise Financial Inc. boosted its holdings in Global Payments by 338.3% in the third 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 in the last quarter. Pzena Investment Management LLC purchased a new position in shares of Global Payments during the third quarter valued at about $197,875,000. Boston Partners grew its holdings in shares of Global Payments by 40.5% during the 3rd 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 period. Finally, Alkeon Capital Management LLC raised its holdings in Global Payments by 119.0% in the third quarter. Alkeon Capital Management LLC now owns 1,085,772 shares of the business services provider’s stock worth $125,287,000 after purchasing an additional 590,000 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Insider Activity

In other news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the completion of the sale, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price 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. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Evercore ISI lowered their price target on Global Payments from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. KeyCorp dropped their target price on Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Global Payments from $145.00 to $159.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.11.

View Our Latest Stock Analysis on Global Payments

Global Payments Price Performance

NYSE:GPN opened at $107.40 on Tuesday. The firm’s fifty day moving average is $123.03 and its two-hundred day moving average is $124.97. The firm has a market cap of $27.41 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 0.70 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. Global Payments Inc. has a one year low of $95.12 and a one year high of $141.77.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s payout ratio is currently 19.84%.

About Global Payments

(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.

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

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