Schechter Investment Advisors LLC Sells 5,009 Shares of Global Payments Inc. (NYSE:GPN)

Posted by Defense World Staff on Jun 11th, 2023

Schechter Investment Advisors LLC cut its holdings in Global Payments Inc. (NYSE:GPN – Get Rating) by 70.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,145 shares of the business services provider’s stock after selling 5,009 shares during the period. Schechter Investment Advisors LLC’s holdings in Global Payments were worth $213,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Global Payments by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 3,273,361 shares of the business services provider’s stock valued at $325,110,000 after purchasing an additional 68,398 shares during the period. Nordea Investment Management AB grew its holdings in Global Payments by 48.0% during the fourth quarter. Nordea Investment Management AB now owns 3,098,234 shares of the business services provider’s stock valued at $305,579,000 after purchasing an additional 1,004,286 shares during the period. Echo Street Capital Management LLC grew its holdings in Global Payments by 79.6% during the third quarter. Echo Street Capital Management LLC now owns 2,676,292 shares of the business services provider’s stock valued at $289,173,000 after purchasing an additional 1,186,038 shares during the period. Bank of New York Mellon Corp grew its holdings in Global Payments by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 2,531,002 shares of the business services provider’s stock valued at $273,475,000 after purchasing an additional 71,801 shares during the period. Finally, Ceredex Value Advisors LLC grew its holdings in Global Payments by 35.9% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,538,393 shares of the business services provider’s stock valued at $152,793,000 after purchasing an additional 406,714 shares during the period. 87.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GPN shares. The Goldman Sachs Group raised Global Payments from a “neutral” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Wednesday, April 12th. Robert W. Baird upgraded Global Payments from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $156.00 in a research report on Wednesday, April 19th. Evercore ISI began coverage on Global Payments in a research report on Friday, May 5th. They set a $116.00 target price on the stock. Barclays began coverage on Global Payments in a research report on Thursday, March 30th. They set an “overweight” rating on the stock. Finally, Mizuho dropped their target price on Global Payments from $120.00 to $110.00 in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.19.

Global Payments Stock Down 0.8 %

GPN opened at $100.09 on Friday. The company has a market cap of $26.22 billion, a P/E ratio of -212.95, a P/E/G ratio of 0.66 and a beta of 1.00. The business’s 50-day moving average price is $103.82 and its 200-day moving average price is $104.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.74. Global Payments Inc. has a 12 month low of $92.27 and a 12 month high of $136.88.

Global Payments (NYSE:GPN – Get Rating) last released 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. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.01 billion. Global Payments had a positive return on equity of 10.67% and a negative net margin of 1.58%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.97 earnings per share. On average, equities analysts expect that Global Payments Inc. will post 9.63 EPS for the current year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. Global Payments’s dividend payout ratio is currently -212.76%.

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.