Crestline Management LP boosted its stake in Global Payments Inc (NYSE:GPN) by 54.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 51,160 shares of the business services provider’s stock after buying an additional 17,999 shares during the period. Global Payments makes up 0.5% of Crestline Management LP’s portfolio, making the stock its 12th largest holding. Crestline Management LP’s holdings in Global Payments were worth $5,129,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Global Payments by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,396,554 shares of the business services provider’s stock valued at $319,071,000 after buying an additional 112,256 shares during the last quarter. Capital International Investors boosted its holdings in Global Payments by 39.1% in the 3rd quarter. Capital International Investors now owns 2,678,334 shares of the business services provider’s stock valued at $254,522,000 after purchasing an additional 752,962 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Global Payments by 5.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,552,480 shares of the business services provider’s stock valued at $255,861,000 after purchasing an additional 137,628 shares during the period. Janus Henderson Group PLC boosted its holdings in Global Payments by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,302,837 shares of the business services provider’s stock valued at $218,838,000 after purchasing an additional 10,039 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Global Payments by 1.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,698,883 shares of the business services provider’s stock valued at $170,296,000 after purchasing an additional 19,457 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.
A number of analysts have issued reports on GPN shares. Zacks Investment Research downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $113.00 price objective on shares of Global Payments in a report on Friday, November 17th. Stephens raised shares of Global Payments from an “equal weight” rating to an “overweight” rating and set a $122.00 price objective for the company in a report on Tuesday, January 9th. Oppenheimer boosted their price objective on shares of Global Payments from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Robert W. Baird reissued a “buy” rating and issued a $124.00 price objective on shares of Global Payments in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $109.40.
Shares of Global Payments Inc (NYSE:GPN) traded down $0.06 during trading on Wednesday, hitting $117.19. 40,699 shares of the stock were exchanged, compared to its average volume of 1,118,676. Global Payments Inc has a 12 month low of $76.47 and a 12 month high of $118.30. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $18,759.23, a P/E ratio of 39.35, a PEG ratio of 1.54 and a beta of 1.09.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $943.39 million. Global Payments had a net margin of 11.78% and a return on equity of 17.94%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. equities analysts predict that Global Payments Inc will post 4.85 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, March 15th. Global Payments’s dividend payout ratio is 1.34%.
Global Payments declared that its board has initiated a share buyback program on Thursday, February 15th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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