Global Payments Inc. (NYSE:GPN) Stake Boosted by Colonial Trust Co SC

by · The Cerbat Gem

Colonial Trust Co SC increased its position in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 101.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,506 shares of the business services provider’s stock after acquiring an additional 1,259 shares during the period. Colonial Trust Co SC’s holdings in Global Payments were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GPN. Vanguard Group Inc. raised its stake in shares of Global Payments by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 24,995,107 shares of the business services provider’s stock worth $2,800,952,000 after purchasing an additional 179,195 shares in the last quarter. Pzena Investment Management LLC raised its position in Global Payments by 25.0% during the fourth quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider’s stock valued at $929,969,000 after acquiring an additional 1,659,984 shares in the last quarter. Geode Capital Management LLC lifted its stake in Global Payments by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 6,230,322 shares of the business services provider’s stock valued at $696,362,000 after acquiring an additional 301,877 shares during the last quarter. Norges Bank bought a new stake in Global Payments in the fourth quarter worth approximately $345,823,000. Finally, Northern Trust Corp grew its position in Global Payments by 12.6% in the fourth quarter. Northern Trust Corp now owns 2,730,471 shares of the business services provider’s stock worth $305,977,000 after acquiring an additional 305,987 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. KeyCorp lifted their price objective on shares of Global Payments from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore ISI initiated coverage on Global Payments in a research note on Wednesday, April 9th. They set an “in-line” rating and a $85.00 price target for the company. Robert W. Baird cut their price objective on Global Payments from $145.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Citigroup restated a “buy” rating on shares of Global Payments in a report on Monday, April 21st. Finally, Williams Trading set a $75.00 price target on Global Payments in a report on Friday, April 18th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Global Payments has an average rating of “Hold” and an average price target of $112.09.

Get Our Latest Research Report on Global Payments

Global Payments Stock Down 0.5 %

Shares of GPN opened at $78.88 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $87.72 and a two-hundred day moving average price of $102.62. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 0.86 and a beta of 0.96. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00.

Global Payments (NYSE:GPN – Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.73 by $0.09. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the firm earned $2.59 EPS. Global Payments’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, June 13th. Global Payments’s dividend payout ratio (DPR) is currently 16.18%.

Global Payments Company Profile

(Free Report)

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.

See Also

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).