Mackenzie Financial Corp Sells 1,519 Shares of Global Payments Inc. (NYSE:GPN)

Mackenzie Financial Corp lessened its stake in Global Payments Inc. (NYSE:GPN) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,665 shares of the business services provider’s stock after selling 1,519 shares during the period. Mackenzie Financial Corp’s holdings in Global Payments were worth $3,259,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new stake in Global Payments in the 3rd quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Global Payments in the fourth quarter valued at about $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in Global Payments in the fourth quarter worth about $41,000. CVA Family Office LLC bought a new position in Global Payments during the fourth quarter worth about $50,000. Finally, Moisand Fitzgerald Tamayo LLC acquired a new stake in Global Payments during the third quarter valued at approximately $47,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GPN has been the subject of a number of recent research reports. Evercore ISI dropped their target price on Global Payments from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. KeyCorp lifted their price objective on Global Payments from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Barclays lowered their target price on shares of Global Payments from $170.00 to $160.00 and set an “overweight” rating on the stock in a report on Tuesday, April 16th. B. Riley increased their target price on shares of Global Payments from $180.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Robert W. Baird boosted their price target on shares of Global Payments from $172.00 to $182.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.92.

Global Payments Trading Up 1.7 %

GPN opened at $124.23 on Tuesday. The firm has a 50 day simple moving average of $130.06 and a 200 day simple moving average of $124.47. Global Payments Inc. has a fifty-two week low of $95.12 and a fifty-two week high of $141.77. The company has a market cap of $31.69 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 0.78 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.99 and a quick ratio of 0.99.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, February 14th. The business services provider reported $2.65 EPS for the quarter, beating the consensus estimate of $2.64 by $0.01. Global Payments had a net margin of 10.22% and a return on equity of 11.44%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company posted $2.30 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Global Payments Inc. will post 10.94 earnings per share for the current year.

Global Payments Dividend Announcement

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

Global Payments Company 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 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.