Seven Eight Capital LP Invests $2.60 Million in Global Payments Inc. (NYSE:GPN)

Seven Eight Capital LP bought a new position in Global Payments Inc. (NYSE:GPNFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 20,478 shares of the business services provider’s stock, valued at approximately $2,601,000.

Other hedge funds have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Global Payments in the 4th quarter valued at $30,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Global Payments in the fourth quarter worth $41,000. Parkside Financial Bank & Trust grew its holdings in Global Payments by 77.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after buying an additional 178 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Global Payments by 26.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock worth $48,000 after buying an additional 7,369 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in Global Payments in the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

GPN has been the subject of a number of research reports. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. Mizuho decreased their target price on shares of Global Payments from $129.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 15th. KeyCorp reduced their price objective on Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Susquehanna dropped their target price on Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a report on Thursday, May 2nd. Finally, Monness Crespi & Hardt decreased their price target on Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and an average target price of $149.11.

Get Our Latest Report on Global Payments

Global Payments Stock Performance

NYSE:GPN traded down $0.05 on Friday, hitting $97.71. The stock had a trading volume of 2,705,765 shares, compared to its average volume of 2,369,420. The business’s 50-day simple moving average is $114.25 and its two-hundred day simple moving average is $123.82. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 0.62 and a beta of 0.98. Global Payments Inc. has a 52-week low of $95.12 and a 52-week high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPNGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. As a group, research analysts predict that Global Payments Inc. will post 11.08 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, June 14th. Global Payments’s payout ratio is 19.84%.

Insider Transactions at Global Payments

In related news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the transaction, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by company insiders.

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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