Teacher Retirement System of Texas reduced its position in Global Payments Inc. (NYSE:GPN) by 40.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,256 shares of the business services provider’s stock after selling 34,274 shares during the quarter. Teacher Retirement System of Texas’ holdings in Global Payments were worth $10,131,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of GPN. Amundi Pioneer Asset Management Inc. lifted its position in Global Payments by 48.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 111,641 shares of the business services provider’s stock worth $15,241,000 after purchasing an additional 36,216 shares during the period. RB Capital Management LLC acquired a new position in Global Payments during the fourth quarter worth $248,000. Cambridge Investment Research Advisors Inc. raised its stake in Global Payments by 3.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 9,440 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 346 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in Global Payments during the fourth quarter worth $871,000. Finally, Regentatlantic Capital LLC raised its stake in Global Payments by 5.8% during the fourth quarter. Regentatlantic Capital LLC now owns 13,098 shares of the business services provider’s stock worth $2,822,000 after acquiring an additional 721 shares in the last quarter. 85.77% of the stock is owned by hedge funds and other institutional investors.
Shares of GPN stock opened at $191.67 on Friday. The stock has a 50-day moving average price of $203.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market capitalization of $56.58 billion, a price-to-earnings ratio of 89.99, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20. Global Payments Inc. has a 12 month low of $153.33 and a 12 month high of $220.81.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Friday, June 11th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Thursday, June 10th. Global Payments’s dividend payout ratio (DPR) is currently 12.98%.
In related news, Director Joia M. Johnson bought 500 shares of Global Payments stock in a transaction on Friday, May 21st. The shares were purchased at an average price of $196.90 per share, for a total transaction of $98,450.00. Following the completion of the acquisition, the director now owns 932 shares in the company, valued at $183,510.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.
Several research firms have issued reports on GPN. Deutsche Bank Aktiengesellschaft increased their price objective on Global Payments from $207.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, April 27th. Compass Point lowered Global Payments from a “buy” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research note on Friday, February 12th. Oppenheimer increased their price objective on Global Payments from $222.00 to $231.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 5th. Morgan Stanley increased their price objective on Global Payments from $209.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 5th. Finally, Rosenblatt Securities raised their target price on Global Payments from $235.00 to $238.00 and gave the company a “buy” rating in a research note on Tuesday, April 20th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $219.59.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. The company operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and on-line reporting services.
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