State of Tennessee Treasury Department Has $17.35 Million Stake in Global Payments Inc. (NYSE:GPN)

State of Tennessee Treasury Department grew its position in shares of Global Payments Inc. (NYSE:GPNFree Report) by 32.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 136,607 shares of the business services provider’s stock after acquiring an additional 33,435 shares during the period. State of Tennessee Treasury Department’s holdings in Global Payments were worth $17,349,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Elo Mutual Pension Insurance Co lifted its holdings in shares of Global Payments by 3.2% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 22,630 shares of the business services provider’s stock valued at $2,874,000 after buying an additional 706 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Global Payments during the 4th quarter valued at about $76,000. Seven Eight Capital LP acquired a new stake in shares of Global Payments during the 4th quarter valued at about $2,601,000. Thematics Asset Management lifted its holdings in Global Payments by 4.9% in the 4th quarter. Thematics Asset Management now owns 186,710 shares of the business services provider’s stock worth $23,712,000 after purchasing an additional 8,710 shares during the last quarter. Finally, Hel Ved Capital Management Ltd acquired a new stake in Global Payments in the 4th quarter worth approximately $1,915,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Global Payments

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

Global Payments Stock Performance

Shares of NYSE:GPN opened at $97.28 on Tuesday. The business’s fifty day moving average price is $113.59 and its two-hundred day moving average price is $123.87. Global Payments Inc. has a fifty-two week low of $95.12 and a fifty-two week high of $141.77. The stock has a market capitalization of $24.83 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 0.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92.

Global Payments (NYSE:GPNGet Free Report) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, topping the consensus estimate of $2.41 by $0.07. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. As a group, analysts predict that Global Payments Inc. will post 11.08 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, June 14th. Global Payments’s payout ratio is presently 19.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Susquehanna reduced their target price on Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a report on Thursday, May 2nd. Monness Crespi & Hardt reduced their target price on Global Payments from $175.00 to $165.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Evercore ISI reduced their target price on Global Payments from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Morgan Stanley upped their price target on Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com lowered Global Payments from a “buy” rating to a “hold” rating in a report on Monday. One equities research 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’s stock. Based on data from MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and an average target price of $149.11.

Read Our Latest Analysis on Global Payments

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.

See Also

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

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