Forsta AP Fonden cut its position in Global Payments Inc. (NYSE:GPN – Free Report) by 15.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,900 shares of the business services provider’s stock after selling 9,900 shares during the period. Forsta AP Fonden’s holdings in Global Payments were worth $5,672,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Main Street Financial Solutions LLC increased its position in shares of Global Payments by 4.7% during the first quarter. Main Street Financial Solutions LLC now owns 11,692 shares of the business services provider’s stock worth $1,230,000 after acquiring an additional 528 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Global Payments by 2.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,247 shares of the business services provider’s stock worth $552,000 after purchasing an additional 131 shares during the period. Stonegate Investment Group LLC increased its holdings in Global Payments by 5.4% during the 1st quarter. Stonegate Investment Group LLC now owns 36,574 shares of the business services provider’s stock worth $3,849,000 after purchasing an additional 1,871 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Global Payments in the 1st quarter valued at about $378,000. Finally, Eastern Bank lifted its holdings in shares of Global Payments by 6.1% in the first quarter. Eastern Bank now owns 85,667 shares of the business services provider’s stock valued at $9,016,000 after purchasing an additional 4,936 shares in the last quarter. Institutional investors and hedge funds own 85.68% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on GPN shares. StockNews.com began coverage on Global Payments in a report on Thursday, May 18th. They set a “hold” rating for the company. 92 Resources reissued a “maintains” rating on shares of Global Payments in a research report on Thursday, May 4th. The Goldman Sachs Group raised shares of Global Payments from a “neutral” rating to a “buy” rating and set a $127.00 target price for the company in a research report on Wednesday, April 12th. Robert W. Baird raised shares of Global Payments from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $130.00 to $156.00 in a research report on Wednesday, April 19th. Finally, Evercore ISI started coverage on Global Payments in a report on Friday, May 5th. They issued a $116.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and an average target price of $144.62.
Global Payments Stock Performance
Global Payments (NYSE:GPN – Free Report) last released its quarterly earnings results on Monday, May 1st. The business services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.09. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.01 billion. Global Payments had a negative net margin of 1.58% and a positive return on equity of 10.67%. Global Payments’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $1.97 earnings per share. On average, equities analysts forecast that Global Payments Inc. will post 9.62 EPS for the current year.
Global Payments Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, June 14th. Global Payments’s dividend payout ratio is currently -212.76%.
Global Payments Profile
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 three segments: Merchant Solutions, Issuer Solutions, and Consumer 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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