Praxis Investment Management Inc. Lowers Stake in Global Payments Inc. (NYSE:GPN)

Praxis Investment Management Inc. lowered its position in shares of Global Payments Inc. (NYSE:GPNFree Report) by 10.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,130 shares of the business services provider’s stock after selling 580 shares during the quarter. Praxis Investment Management Inc.’s holdings in Global Payments were worth $502,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Global Payments in the fourth quarter worth $725,000. Principal Securities Inc. lifted its holdings in shares of Global Payments by 8.9% in the fourth quarter. Principal Securities Inc. now owns 2,523 shares of the business services provider’s stock worth $283,000 after buying an additional 206 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Global Payments by 54.4% in the fourth quarter. Allworth Financial LP now owns 707 shares of the business services provider’s stock worth $77,000 after buying an additional 249 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Global Payments by 18.6% in the fourth quarter. Sanctuary Advisors LLC now owns 11,525 shares of the business services provider’s stock worth $1,301,000 after buying an additional 1,807 shares in the last quarter. Finally, Atria Wealth Solutions Inc. lifted its holdings in shares of Global Payments by 27.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,616 shares of the business services provider’s stock worth $1,078,000 after buying an additional 2,046 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Truist Financial assumed coverage on shares of Global Payments in a report on Monday, June 2nd. They issued a “hold” rating and a $79.00 target price on the stock. Royal Bank Of Canada downgraded shares of Global Payments from an “outperform” rating to a “sector perform” rating and set a $86.00 target price on the stock. in a report on Friday, April 25th. Wolfe Research restated a “peer perform” rating on shares of Global Payments in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Finally, TD Cowen cut shares of Global Payments from a “buy” rating to a “hold” rating and set a $78.00 price target on the stock. in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $110.91.

Get Our Latest Stock Analysis on GPN

Global Payments Trading Up 0.7%

NYSE GPN opened at $76.69 on Monday. The company’s 50-day moving average price is $77.18 and its 200-day moving average price is $95.02. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The stock has a market cap of $18.70 billion, a PE ratio of 12.37, a PEG ratio of 0.73 and a beta of 0.93. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00.

Global Payments (NYSE:GPNGet Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.09. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the business posted $2.59 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, June 13th. Global Payments’s dividend payout ratio (DPR) is presently 16.13%.

About Global Payments

(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

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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