Reinhart Partners LLC. cut its position in Global Payments Inc. (NYSE:GPN – Free Report) by 27.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,327 shares of the business services provider’s stock after selling 19,240 shares during the quarter. Reinhart Partners LLC.’s holdings in Global Payments were worth $3,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Independent Advisor Alliance lifted its stake in Global Payments by 260.5% in the 3rd quarter. Independent Advisor Alliance now owns 29,446 shares of the business services provider’s stock worth $2,446,000 after purchasing an additional 21,278 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Global Payments in the 3rd quarter worth approximately $905,000. Moore Capital Management LP lifted its stake in Global Payments by 13.3% in the 3rd quarter. Moore Capital Management LP now owns 231,200 shares of the business services provider’s stock worth $19,208,000 after purchasing an additional 27,200 shares in the last quarter. LSV Asset Management lifted its stake in Global Payments by 22.7% in the 3rd quarter. LSV Asset Management now owns 342,600 shares of the business services provider’s stock worth $28,463,000 after purchasing an additional 63,400 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new stake in Global Payments in the 3rd quarter worth approximately $1,024,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Global Payments Price Performance
Shares of NYSE:GPN opened at $74.09 on Wednesday. The company’s fifty day moving average price is $69.31 and its 200-day moving average price is $73.51. The firm has a market capitalization of $20.27 billion, a price-to-earnings ratio of -36.32, a PEG ratio of 0.42 and a beta of 0.76. Global Payments Inc. has a one year low of $62.45 and a one year high of $90.64. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.79 and a quick ratio of 0.79.
Global Payments Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Global Payments’s dividend payout ratio (DPR) is currently -49.02%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. UBS Group reiterated a “neutral” rating and issued a $80.00 target price on shares of Global Payments in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Global Payments from $80.00 to $75.00 in a report on Monday, May 11th. Mizuho decreased their price target on shares of Global Payments from $125.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, March 26th. Weiss Ratings lowered shares of Global Payments from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Cantor Fitzgerald decreased their price target on shares of Global Payments from $88.00 to $76.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.29.
Check Out Our Latest Stock Report on GPN
About Global Payments
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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