Allspring Global Investments Holdings LLC Sells 471 Shares of Global Payments Inc. (NYSE:GPN)

Allspring Global Investments Holdings LLC decreased its holdings in Global Payments Inc. (NYSE:GPN) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,937 shares of the business services provider’s stock after selling 471 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Global Payments were worth $1,643,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new position in shares of Global Payments in the third quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new position in Global Payments during the 4th quarter valued at $41,000. Moisand Fitzgerald Tamayo LLC purchased a new position in Global Payments during the 3rd quarter worth $47,000. Parkside Financial Bank & Trust grew its stake in shares of Global Payments by 77.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock worth $47,000 after acquiring an additional 178 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TheStreet raised shares of Global Payments from a “c” rating to a “b-” rating in a research report on Thursday, February 1st. Susquehanna increased their price target on Global Payments from $150.00 to $160.00 and gave the company a “positive” rating in a research report on Thursday, February 15th. Wedbush boosted their price objective on Global Payments from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 10th. BMO Capital Markets decreased their target price on Global Payments from $138.00 to $137.00 and set a “market perform” rating for the company in a research report on Thursday, February 15th. Finally, Robert W. Baird boosted their price target on shares of Global Payments from $172.00 to $182.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.92.

Global Payments Trading Up 1.7 %

Shares of Global Payments stock opened at $124.23 on Tuesday. The company’s 50-day moving average price is $130.06 and its 200-day moving average price is $124.47. The company has a market cap of $31.69 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 0.78 and a beta of 0.96. Global Payments Inc. has a 12-month low of $95.12 and a 12-month high of $141.77. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67.

Global Payments (NYSE:GPN) last posted 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 net margin of 10.22% and a return on equity of 11.44%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.30 EPS. On average, equities analysts expect that Global Payments Inc. will post 10.94 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.80%. Global Payments’s dividend payout ratio is currently 26.46%.

About Global Payments

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.