Retirement Systems of Alabama Has $8.18 Million Position in Global Payments Inc. (NYSE:GPN)

Posted by Defense World Staff on Jul 24th, 2023

Retirement Systems of Alabama lowered its stake in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 10.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 77,760 shares of the business services provider’s stock after selling 8,865 shares during the period. Retirement Systems of Alabama’s holdings in Global Payments were worth $8,183,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. James Investment Research Inc. acquired a new position in Global Payments in the fourth quarter worth about $26,000. Clear Street Markets LLC acquired a new position in Global Payments in the fourth quarter worth about $27,000. MV Capital Management Inc. raised its position in Global Payments by 166.7% in the first quarter. MV Capital Management Inc. now owns 296 shares of the business services provider’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in Global Payments by 63.9% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 331 shares of the business services provider’s stock worth $33,000 after purchasing an additional 129 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new position in Global Payments in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 85.68% of the company’s stock.

Global Payments Price Performance

GPN opened at $110.49 on Monday. The firm’s fifty day moving average is $102.68 and its two-hundred day moving average is $105.98. 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 twelve month low of $92.27 and a twelve month high of $136.88.

Global Payments (NYSE:GPN – Get Free Report) last issued its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business posted $1.97 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Global Payments Inc. will post 9.61 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a $0.25 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $1.00 annualized dividend and a yield of 0.91%. Global Payments’s payout ratio is currently -212.76%.

Analysts Set New Price Targets

Several analysts have weighed in on GPN shares. The Goldman Sachs Group upped their price objective on shares of Global Payments from $127.00 to $128.00 in a research note on Thursday, July 13th. KeyCorp upped their price objective on shares of Global Payments from $115.00 to $125.00 in a research note on Monday, April 24th. Susquehanna decreased their price objective on shares of Global Payments from $190.00 to $180.00 in a research note on Monday, June 5th. Citigroup began coverage on shares of Global Payments in a research note on Friday, April 28th. They set a “buy” rating and a $136.00 price target on the stock. Finally, Robert W. Baird raised shares of Global Payments from a “neutral” rating to an “outperform” rating and increased their price target for the company from $130.00 to $156.00 in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

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 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.