Pinnacle Associates Ltd. Has $390,000 Stake in Global Payments Inc. (NYSE:GPN)

Pinnacle Associates Ltd. lifted its stake in shares of Global Payments Inc. (NYSE:GPNFree Report) by 5.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,068 shares of the business services provider’s stock after buying an additional 164 shares during the period. Pinnacle Associates Ltd.’s holdings in Global Payments were worth $390,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Global Payments by 1.3% in the 1st quarter. State Street Corp now owns 10,819,457 shares of the business services provider’s stock worth $1,138,638,000 after purchasing an additional 134,403 shares in the last quarter. FMR LLC lifted its stake in Global Payments by 40.7% during the 3rd quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock valued at $1,078,525,000 after acquiring an additional 2,703,434 shares in the last quarter. Boston Partners lifted its stake in Global Payments by 40.5% during the 3rd quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock valued at $591,613,000 after acquiring an additional 1,481,714 shares in the last quarter. Bank of America Corp DE lifted its stake in Global Payments by 24.8% during the 1st quarter. Bank of America Corp DE now owns 3,518,268 shares of the business services provider’s stock valued at $370,263,000 after acquiring an additional 698,913 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Global Payments by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,499,860 shares of the business services provider’s stock valued at $403,849,000 after acquiring an additional 116,664 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Trading Down 1.0 %

Shares of NYSE:GPN opened at $127.08 on Thursday. The stock has a market capitalization of $32.42 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 0.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day simple moving average is $132.95 and its two-hundred day simple moving average is $123.77. Global Payments Inc. has a 52-week low of $95.12 and a 52-week high of $141.77.

Global Payments (NYSE:GPNGet Free Report) last announced its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.01. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Global Payments had a return on equity of 11.44% and a net margin of 10.22%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $2.30 earnings per share. Analysts expect that Global Payments Inc. will post 10.94 EPS for the current year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. Global Payments’s payout ratio is currently 26.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group lifted their target price on Global Payments from $130.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Royal Bank of Canada upped their price target on Global Payments from $154.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Robert W. Baird upped their price target on Global Payments from $162.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. KeyCorp upped their price objective on shares of Global Payments from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Finally, Barclays upped their price objective on shares of Global Payments from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.92.

Get Our Latest Report on Global Payments

Global Payments Company Profile

(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 two segments, Merchant Solutions and Issuer 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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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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