Callodine Capital Management LP Has $25.21 Million Holdings in Global Payments Inc. $GPN

Callodine Capital Management LP raised its position in shares of Global Payments Inc. (NYSE:GPN) by 71.7% in the first quarter, Holdings Channel reports. The firm owned 257,500 shares of the business services provider’s stock after acquiring an additional 107,500 shares during the quarter. Global Payments accounts for 4.2% of Callodine Capital Management LP’s holdings, making the stock its 8th biggest holding. Callodine Capital Management LP’s holdings in Global Payments were worth $25,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Optiver Holding B.V. bought a new stake in Global Payments during the 4th quarter valued at about $28,000. NBC Securities Inc. purchased a new stake in shares of Global Payments during the 1st quarter valued at about $30,000. True Wealth Design LLC purchased a new stake in shares of Global Payments during the 4th quarter valued at about $40,000. Larson Financial Group LLC boosted its holdings in shares of Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 317 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Global Payments during the 1st quarter valued at about $37,000. 89.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GPN. Wall Street Zen raised shares of Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, May 15th. Mizuho raised shares of Global Payments from a “neutral” rating to an “outperform” rating and raised their price target for the company from $86.00 to $114.00 in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on shares of Global Payments from $86.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. Evercore ISI raised their price objective on shares of Global Payments from $85.00 to $90.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Global Payments from $81.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Ten analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $112.21.

Global Payments Price Performance

Shares of NYSE:GPN opened at $88.31 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a market capitalization of $21.43 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.85 and a beta of 0.93. The firm’s 50 day simple moving average is $82.00 and its two-hundred day simple moving average is $85.61.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.04. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $2.93 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.00 annualized dividend and a yield of 1.1%. Global Payments’s payout ratio is currently 17.48%.

Insiders Place Their Bets

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the transaction, the general counsel owned 30,713 shares of the company’s stock, valued at $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.01% of the stock is owned by corporate insiders.

Global Payments Company 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.