Global Payments Inc. (NYSE:GPN) Shares Sold by SYM FINANCIAL Corp

SYM FINANCIAL Corp trimmed its stake in shares of Global Payments Inc. (NYSE:GPN) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,580 shares of the business services provider’s stock after selling 212 shares during the quarter. SYM FINANCIAL Corp’s holdings in Global Payments were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. AIA Group Ltd acquired a new stake in Global Payments during the 4th quarter worth approximately $349,000. Oribel Capital Management LP grew its holdings in Global Payments by 495.1% during the fourth quarter. Oribel Capital Management LP now owns 521,300 shares of the business services provider’s stock worth $58,417,000 after acquiring an additional 433,700 shares during the period. Bridgewater Associates LP grew its holdings in Global Payments by 88.6% during the fourth quarter. Bridgewater Associates LP now owns 892,958 shares of the business services provider’s stock worth $100,065,000 after acquiring an additional 419,443 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Global Payments during the fourth quarter worth $1,708,000. Finally, Geode Capital Management LLC grew its holdings in Global Payments by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 6,230,322 shares of the business services provider’s stock worth $696,362,000 after acquiring an additional 301,877 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Global Payments from $81.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. KeyCorp lifted their price objective on Global Payments from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. B. Riley reaffirmed a “buy” rating on shares of Global Payments in a report on Wednesday, July 16th. JPMorgan Chase & Co. reduced their price objective on Global Payments from $115.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Finally, Jefferies Financial Group cut Global Payments from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Friday, April 18th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $111.55.

Global Payments Stock Down 0.4%

Shares of Global Payments stock opened at $83.78 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market cap of $20.43 billion, a P/E ratio of 13.51, a P/E/G ratio of 0.81 and a beta of 0.94. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The business has a 50-day moving average price of $78.69 and a 200 day moving average price of $90.06.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.09. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 EPS. On average, sell-side analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, June 13th. Global Payments’s payout ratio is 16.13%.

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.