1,710 Shares in Global Payments Inc. (NYSE:GPN) Bought by AllGen Financial Advisors Inc.

AllGen Financial Advisors Inc. purchased a new stake in shares of Global Payments Inc. (NYSE:GPN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,710 shares of the business services provider’s stock, valued at approximately $217,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Global Payments by 40.7% during the 3rd quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock valued at $1,078,525,000 after buying an additional 2,703,434 shares in the last quarter. Boston Partners raised its stake in shares of Global Payments by 40.5% during the third quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock worth $591,613,000 after acquiring an additional 1,481,714 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Global Payments by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,499,860 shares of the business services provider’s stock worth $403,849,000 after acquiring an additional 116,664 shares during the last quarter. Morgan Stanley boosted its stake in shares of Global Payments by 2.7% in the 3rd quarter. Morgan Stanley now owns 3,402,869 shares of the business services provider’s stock valued at $392,657,000 after purchasing an additional 89,057 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Global Payments by 338.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock valued at $379,416,000 after purchasing an additional 2,537,941 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

GPN has been the subject of several analyst reports. TheStreet upgraded shares of Global Payments from a “c” rating to a “b-” rating in a research report on Thursday, February 1st. Barclays reduced their price target on Global Payments from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday. Wedbush boosted their price objective on Global Payments from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 10th. Keefe, Bruyette & Woods cut their target price on shares of Global Payments from $158.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Morgan Stanley lifted their target price on shares of Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Global Payments Stock Up 0.8 %

NYSE GPN traded up $0.83 during trading hours on Friday, reaching $111.37. 3,191,218 shares of the company’s stock traded hands, compared to its average volume of 2,029,470. Global Payments Inc. has a 52-week low of $95.12 and a 52-week high of $141.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.99. The firm has a 50-day simple moving average of $127.50 and a 200 day simple moving average of $124.82. The firm has a market cap of $28.43 billion, a PE ratio of 22.10, a PEG ratio of 0.72 and a beta of 0.97.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.01. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.18 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $2.30 earnings per share. Sell-side analysts anticipate that Global Payments Inc. will post 10.95 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. Global Payments’s payout ratio is presently 19.84%.

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.