Saudi Central Bank lifted its holdings in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 86.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,377 shares of the business services provider’s stock after purchasing an additional 7,593 shares during the quarter. Saudi Central Bank’s holdings in Global Payments were worth $1,188,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Strive Financial Group LLC bought a new position in Global Payments in the fourth quarter valued at $25,000. DV Equities LLC bought a new stake in Global Payments during the fourth quarter worth about $26,000. Western Wealth Management LLC bought a new stake in Global Payments during the first quarter worth about $34,000. Johnson Financial Group Inc. purchased a new position in shares of Global Payments in the 3rd quarter worth about $35,000. Finally, Hantz Financial Services Inc. increased its position in shares of Global Payments by 87.5% during the 4th quarter. Hantz Financial Services Inc. now owns 478 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 223 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.
Global Payments Price Performance
Shares of Global Payments stock opened at $89.54 on Wednesday. The company’s fifty day simple moving average is $85.60 and its two-hundred day simple moving average is $75.63. Global Payments Inc. has a 12-month low of $61.16 and a 12-month high of $95.88. The firm has a market cap of $23.69 billion, a PE ratio of -30.05, a price-to-earnings-growth ratio of 0.50 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.90.
Global Payments Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Global Payments’s dividend payout ratio (DPR) is presently -33.56%.
Analyst Upgrades and Downgrades
GPN has been the topic of a number of research reports. Argus set a $110.00 price objective on Global Payments and gave the company a “buy” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods increased their price target on shares of Global Payments from $76.00 to $95.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. The Goldman Sachs Group lifted their price target on shares of Global Payments from $82.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. TD Cowen upped their price objective on shares of Global Payments from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, August 26th. Finally, Wall Street Zen cut shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Nine investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.52.
View Our Latest Analysis on Global Payments
Global Payments 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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