Nichols & Pratt Advisers LLP MA lowered its stake in Global Payments Inc. (NYSE:GPN – Free Report) by 11.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 72,013 shares of the business services provider’s stock after selling 9,458 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Global Payments were worth $4,846,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Global Payments during the fourth quarter worth $725,000. Caxton Associates LLP purchased a new stake in shares of Global Payments during the first quarter worth about $243,000. Intech Investment Management LLC raised its position in shares of Global Payments by 43.5% during the 1st quarter. Intech Investment Management LLC now owns 14,462 shares of the business services provider’s stock worth $1,416,000 after purchasing an additional 4,386 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Global Payments by 7.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 41,577 shares of the business services provider’s stock worth $3,327,000 after purchasing an additional 2,840 shares during the last quarter. Finally, AXA S.A. lifted its stake in Global Payments by 236.6% in the 2nd quarter. AXA S.A. now owns 28,622 shares of the business services provider’s stock valued at $2,291,000 after buying an additional 20,119 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.
Global Payments Stock Down 5.7%
Shares of NYSE GPN opened at $73.15 on Thursday. The stock has a market cap of $20.01 billion, a PE ratio of -35.86, a P/E/G ratio of 0.44 and a beta of 0.76. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.86. Global Payments Inc. has a 12-month low of $61.16 and a 12-month high of $90.64. The company has a 50-day moving average of $70.05 and a 200 day moving average of $72.05.
Global Payments Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. Global Payments’s payout ratio is -49.02%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on GPN. Citigroup lowered their price objective on Global Payments from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. BMO Capital Markets initiated coverage on Global Payments in a research report on Tuesday, April 21st. They issued a “market perform” rating and a $76.00 target price on the stock. Morgan Stanley assumed coverage on Global Payments in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $65.00 price target on the stock. Truist Financial dropped their price target on Global Payments from $81.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Global Payments from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.75.
Read Our Latest Analysis on Global Payments
Global Payments Company Profile
Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.
Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.
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