Global Payments Inc. (NYSE:GPN) Position Lessened by Parallel Advisors LLC

Parallel Advisors LLC decreased its stake in Global Payments Inc. (NYSE:GPNFree Report) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 886 shares of the business services provider’s stock after selling 140 shares during the period. Parallel Advisors LLC’s holdings in Global Payments were worth $113,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GPN. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Global Payments in the 4th quarter worth approximately $30,000. McGlone Suttner Wealth Management Inc. bought a new stake in Global Payments during the 4th quarter valued at $41,000. Parkside Financial Bank & Trust raised its stake in Global Payments by 77.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 178 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Global Payments by 26.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 7,369 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in Global Payments during the 4th quarter valued at $50,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays cut their target price on Global Payments from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Robert W. Baird cut their target price on Global Payments from $182.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI cut their target price on Global Payments from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. BMO Capital Markets cut their target price on Global Payments from $143.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Finally, StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.11.

Check Out Our Latest Stock Analysis on GPN

Insider Activity

In other news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the transaction, the vice president now owns 25,209 shares in the company, valued at $2,806,770.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.98% of the stock is currently owned by corporate insiders.

Global Payments Stock Performance

Shares of NYSE GPN opened at $97.54 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 0.63 and a beta of 0.98. The stock’s fifty day simple moving average is $116.35 and its 200 day simple moving average is $124.29. 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 issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. As a group, sell-side analysts forecast that Global Payments Inc. will post 11.08 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. Global Payments’s dividend payout ratio is 19.84%.

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 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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