Rehmann Capital Advisory Group Takes Position in Global Payments Inc. (NYSE:GPN)

Rehmann Capital Advisory Group bought a new stake in Global Payments Inc. (NYSE:GPNFree Report) during the 1st quarter, HoldingsChannel reports. The firm bought 1,661 shares of the business services provider’s stock, valued at approximately $222,000.

Other institutional investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Global Payments in the fourth quarter valued at about $30,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Global Payments in the fourth quarter valued at about $41,000. West Paces Advisors Inc. lifted its stake in shares of Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after buying an additional 109 shares in the last quarter. North Star Investment Management Corp. lifted its stake in shares of Global Payments by 154.7% in the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after buying an additional 215 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake 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. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GPN. Citigroup decreased their price target on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday. StockNews.com downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. TD Cowen reduced their target price on shares of Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $172.00 target price on shares of Global Payments in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Global Payments has a consensus rating of “Moderate Buy” and an average target price of $145.32.

Check Out Our Latest Analysis on Global Payments

Insider Transactions at Global Payments

In related news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Global Payments Stock Performance

Global Payments stock traded down $1.21 during trading hours on Wednesday, reaching $94.58. 1,190,014 shares of the stock were exchanged, compared to its average volume of 2,316,238. The stock has a market cap of $24.14 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.61 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The firm’s 50 day moving average is $101.08 and its 200 day moving average is $119.97.

Global Payments (NYSE:GPNGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.17 billion. Analysts predict that Global Payments Inc. will post 11.09 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

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.

Further Reading

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

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