Pinnacle Associates Ltd. Has $390,000 Position in Global Payments Inc. (NYSE:GPN)

Pinnacle Associates Ltd. increased its stake in shares of Global Payments Inc. (NYSE:GPNFree Report) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,068 shares of the business services provider’s stock after acquiring an additional 164 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Global Payments were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GPN. Gradient Investments LLC increased its stake in Global Payments by 7.0% during the 4th quarter. Gradient Investments LLC now owns 148,362 shares of the business services provider’s stock worth $18,842,000 after purchasing an additional 9,643 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Global Payments in the fourth quarter valued at about $41,000. Procyon Advisors LLC boosted its stake in shares of Global Payments by 0.6% during the fourth quarter. Procyon Advisors LLC now owns 19,439 shares of the business services provider’s stock valued at $2,469,000 after purchasing an additional 115 shares in the last quarter. Northstar Advisory Group LLC acquired a new position in shares of Global Payments in the fourth quarter worth approximately $1,282,000. Finally, Planned Solutions Inc. bought a new stake in Global Payments in the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Stock Performance

NYSE:GPN opened at $127.08 on Thursday. Global Payments Inc. has a 1 year low of $95.12 and a 1 year high of $141.77. The firm’s fifty day simple moving average is $132.95 and its 200 day simple moving average is $123.77. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $32.42 billion, a PE ratio of 33.62, a PEG ratio of 0.83 and a beta of 0.96.

Global Payments (NYSE:GPNGet Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.01. Global Payments had a net margin of 10.22% and a return on equity of 11.44%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the firm earned $2.30 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts anticipate that Global Payments Inc. will post 10.94 EPS for the current year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, March 14th. Global Payments’s dividend payout ratio is currently 26.46%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. BMO Capital Markets cut their price target on Global Payments from $138.00 to $137.00 and set a “market perform” rating for the company in a research note on Thursday, February 15th. Mizuho reissued a “neutral” rating and set a $129.00 price objective on shares of Global Payments in a report on Wednesday, March 27th. Wedbush lifted their price target on Global Payments from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 10th. Evercore ISI cut their price objective on Global Payments from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. boosted their target price on Global Payments from $145.00 to $159.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Global Payments has an average rating of “Moderate Buy” and a consensus target price of $151.92.

Get Our Latest Research Report on Global Payments

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.

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

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