Envestnet Asset Management Inc. cut its stake in Global Payments Inc. (NYSE:GPN – Get Rating) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 299,167 shares of the business services provider’s stock after selling 36,507 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Global Payments worth $29,713,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. raised its position in Global Payments by 10.3% in the 1st quarter. American Century Companies Inc. now owns 6,136 shares of the business services provider’s stock worth $840,000 after purchasing an additional 572 shares during the period. Private Advisor Group LLC raised its holdings in shares of Global Payments by 7.7% in the first quarter. Private Advisor Group LLC now owns 3,942 shares of the business services provider’s stock worth $539,000 after buying an additional 281 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Global Payments by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,288,788 shares of the business services provider’s stock worth $176,366,000 after acquiring an additional 48,605 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Global Payments by 259.7% during the 1st quarter. Vontobel Holding Ltd. now owns 17,285 shares of the business services provider’s stock valued at $2,377,000 after acquiring an additional 12,479 shares during the period. Finally, Prudential PLC bought a new position in Global Payments in the 1st quarter valued at $766,000. 87.58% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Global Payments
In other Global Payments news, CAO David M. Sheffield sold 1,562 shares of Global Payments 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 sale, the chief accounting officer now directly owns 28,032 shares in the company, valued at approximately $3,169,858.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.
Global Payments Stock Performance
Global Payments (NYSE:GPN – Get Rating) last posted its quarterly earnings data on Monday, May 1st. The business services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.31 by $0.09. Global Payments had a negative net margin of 1.58% and a positive return on equity of 10.67%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $1.97 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts predict that Global Payments Inc. will post 9.87 earnings per share for the current year.
Global Payments Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Wednesday, June 14th. Global Payments’s dividend payout ratio (DPR) is -212.76%.
Wall Street Analyst Weigh In
GPN has been the subject of several research analyst reports. Morgan Stanley lifted their target price on Global Payments from $135.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, February 13th. BMO Capital Markets decreased their price target on shares of Global Payments from $220.00 to $208.00 and set an “outperform” rating for the company in a research note on Monday, February 13th. Truist Financial increased their price objective on Global Payments from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, February 13th. KeyCorp lifted their target price on Global Payments from $115.00 to $125.00 in a research report on Monday, April 24th. Finally, 92 Resources restated a “maintains” rating on shares of Global Payments in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.46.
Global Payments Company Profile
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.
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