New York State Teachers Retirement System Reduces Position in Global Payments Inc. (NYSE:GPN)

Posted by Defense World Staff on Apr 12th, 2023

New York State Teachers Retirement System trimmed its position in shares of Global Payments Inc. (NYSE:GPN – Get Rating) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320,359 shares of the business services provider’s stock after selling 10,086 shares during the period. New York State Teachers Retirement System owned 0.12% of Global Payments worth $31,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp raised its position in shares of Global Payments by 3.3% during the 4th quarter. Fifth Third Bancorp now owns 15,055 shares of the business services provider’s stock valued at $1,495,000 after purchasing an additional 484 shares during the period. Xponance Inc. increased its holdings in Global Payments by 19.1% in the 4th quarter. Xponance Inc. now owns 32,485 shares of the business services provider’s stock valued at $3,226,000 after acquiring an additional 5,210 shares during the last quarter. Royal Bank of Canada increased its holdings in Global Payments by 93.8% in the 3rd quarter. Royal Bank of Canada now owns 1,061,953 shares of the business services provider’s stock valued at $114,743,000 after acquiring an additional 514,006 shares during the last quarter. South Dakota Investment Council bought a new stake in Global Payments in the 3rd quarter valued at $486,000. Finally, International Assets Investment Management LLC bought a new stake in Global Payments in the 4th quarter valued at $811,000. 87.58% of the stock is currently owned by institutional investors.

Global Payments Price Performance

Shares of GPN opened at $105.86 on Wednesday. The company has a 50 day moving average price of $107.95 and a 200-day moving average price of $106.26. Global Payments Inc. has a fifty-two week low of $92.27 and a fifty-two week high of $146.71. The stock has a market capitalization of $27.92 billion, a PE ratio of 240.60, a PEG ratio of 0.68 and a beta of 0.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPN – Get Rating) last announced its quarterly earnings results on Friday, February 10th. The business services provider reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.08. Global Payments had a net margin of 1.24% and a return on equity of 10.30%. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the company earned $2.03 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Equities analysts predict that Global Payments Inc. will post 9.85 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were given a $0.25 dividend. The ex-dividend date was Thursday, March 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.94%. Global Payments’s payout ratio is presently 227.28%.

Wall Street Analysts Forecast Growth

GPN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Global Payments from $188.00 to $155.00 in a report on Tuesday, December 20th. KeyCorp reduced their price target on shares of Global Payments from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, January 9th. Oppenheimer reduced their price target on shares of Global Payments from $133.00 to $119.00 and set an “outperform” rating on the stock in a report on Wednesday, January 25th. Raymond James boosted their target price on shares of Global Payments from $158.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, February 13th. Finally, Morgan Stanley boosted their target price on shares of Global Payments from $135.00 to $144.00 and gave the stock an “overweight” rating in a report on Monday, February 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments has a consensus rating of “Moderate Buy” and a consensus price target of $149.31.

Insider Buying and Selling

In related news, CAO David M. Sheffield sold 1,562 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $113.08, for a total transaction of $176,630.96. Following the completion of the transaction, the chief accounting officer now owns 28,032 shares in the company, valued at approximately $3,169,858.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Global Payments Company Profile

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Global Payments, Inc engages in the provision of payment technology and software solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions. The Merchant Solutions segment provides payments technology and software solutions to customers globally.

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

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