Clearbridge Investments LLC grew its position in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 5,710.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 941,299 shares of the business services provider’s stock after buying an additional 925,099 shares during the period. Clearbridge Investments LLC’s holdings in Global Payments were worth $72,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in GPN. REAP Financial Group LLC acquired a new stake in Global Payments in the 3rd quarter valued at $28,000. True Wealth Design LLC grew its stake in Global Payments by 183.6% in the 4th quarter. True Wealth Design LLC now owns 431 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 279 shares during the period. Torren Management LLC acquired a new stake in Global Payments in the 4th quarter valued at $34,000. Johnson Financial Group Inc. acquired a new stake in Global Payments in the 3rd quarter valued at $35,000. Finally, Hantz Financial Services Inc. grew its stake in Global Payments by 87.5% in the 4th quarter. Hantz Financial Services Inc. now owns 478 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.
Global Payments Stock Down 2.8%
Shares of NYSE:GPN opened at $64.48 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $17.64 billion, a PE ratio of -31.61, a price-to-earnings-growth ratio of 0.37 and a beta of 0.76. The firm’s 50-day moving average is $69.10 and its two-hundred day moving average is $73.29. Global Payments Inc. has a 1 year low of $62.45 and a 1 year high of $90.64.
Global Payments Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Global Payments’s dividend payout ratio is -49.02%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. TD Cowen dropped their price target on shares of Global Payments from $91.00 to $86.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. Stephens set a $80.00 price target on shares of Global Payments and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings cut shares of Global Payments from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Argus dropped their price target on shares of Global Payments from $100.00 to $95.00 in a research note on Friday, May 8th. Finally, BNP Paribas Exane dropped their price target on shares of Global Payments from $64.00 to $60.00 and set an “underperform” rating on the stock in a research note on Friday, April 10th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Global Payments presently has a consensus rating of “Hold” and an average price target of $85.50.
Read Our Latest Report 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.
See Also
- Five stocks we like better than Global Payments
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc. (NYSE:GPN – Free Report).
Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.
