Mutual of America Capital Management LLC Cuts Stake in Global Payments Inc. (NYSE:GPN)

Mutual of America Capital Management LLC lowered its stake in shares of Global Payments Inc. (NYSE:GPN) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,798 shares of the business services provider’s stock after selling 1,690 shares during the period. Mutual of America Capital Management LLC’s holdings in Global Payments were worth $2,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Global Payments by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 24,995,107 shares of the business services provider’s stock valued at $2,800,952,000 after acquiring an additional 179,195 shares in the last quarter. Geode Capital Management LLC grew its stake in Global Payments by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 6,230,322 shares of the business services provider’s stock valued at $696,362,000 after acquiring an additional 301,877 shares in the last quarter. Norges Bank purchased a new stake in Global Payments during the 4th quarter valued at about $345,823,000. Janus Henderson Group PLC grew its stake in Global Payments by 9.8% during the 4th quarter. Janus Henderson Group PLC now owns 2,906,444 shares of the business services provider’s stock valued at $325,698,000 after acquiring an additional 259,590 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Global Payments by 12.6% during the 4th quarter. Northern Trust Corp now owns 2,730,471 shares of the business services provider’s stock valued at $305,977,000 after acquiring an additional 305,987 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD Cowen raised shares of Global Payments from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Monday, July 14th. Wolfe Research reaffirmed a “peer perform” rating on shares of Global Payments in a research note on Wednesday, April 23rd. Barclays dropped their price target on shares of Global Payments from $125.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Truist Financial increased their price target on shares of Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Citigroup reissued a “buy” rating on shares of Global Payments in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $111.55.

Global Payments Price Performance

Global Payments stock opened at $81.93 on Friday. The firm has a market cap of $19.98 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $78.68 and its two-hundred day moving average is $90.66.

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

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Global Payments’s dividend payout ratio (DPR) is presently 16.13%.

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.