Global Payments Inc. (NYSE:GPN) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in Global Payments Inc. (NYSE:GPN) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,615 shares of the business services provider’s stock after selling 1,411 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Global Payments were worth $10,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GPN. Optiver Holding B.V. acquired a new stake in shares of Global Payments in the fourth quarter valued at $28,000. NBC Securities Inc. acquired a new stake in shares of Global Payments in the first quarter valued at $30,000. Whipplewood Advisors LLC acquired a new stake in shares of Global Payments in the fourth quarter valued at $37,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Global Payments in the fourth quarter valued at $38,000. Finally, True Wealth Design LLC acquired a new stake in shares of Global Payments in the fourth quarter valued at $40,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GPN shares. Truist Financial started coverage on Global Payments in a research note on Monday, June 2nd. They set a “hold” rating and a $79.00 target price for the company. Barclays lowered their target price on Global Payments from $125.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their target price on Global Payments from $115.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Evercore ISI started coverage on Global Payments in a research note on Wednesday, April 9th. They set an “in-line” rating and a $85.00 target price for the company. Finally, Wolfe Research reissued a “peer perform” rating on shares of Global Payments in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $110.91.

Global Payments Stock Up 1.1%

Global Payments stock opened at $76.88 on Monday. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. The company has a market capitalization of $18.75 billion, a P/E ratio of 12.44, a PEG ratio of 0.86 and a beta of 0.93. The stock has a 50-day simple moving average of $79.07 and a 200-day simple moving average of $97.86.

Global Payments (NYSE:GPN) last posted its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share 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 during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the business earned $2.59 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, June 13th. Global Payments’s payout ratio is currently 16.13%.

Global Payments Profile

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.