Global Payments Inc. (NYSE:GPN) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,094 shares of the business services provider’s stock after selling 1,143 shares during the period. Amalgamated Bank’s holdings in Global Payments were worth $8,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in Global Payments by 40.7% in the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock valued at $1,078,525,000 after purchasing an additional 2,703,434 shares during the last quarter. Boston Partners increased its position in 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 buying an additional 1,481,714 shares during the period. Victory Capital Management Inc. increased 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 valued at $403,849,000 after acquiring an additional 116,664 shares during the period. Morgan Stanley raised its position in 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 during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Global Payments by 338.3% in 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. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Price Performance

GPN stock opened at $111.37 on Friday. The stock’s 50 day moving average price is $127.50 and its 200 day moving average price is $124.69. The firm has a market cap of $28.43 billion, a P/E ratio of 22.10, a PEG ratio of 0.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.92. Global Payments Inc. has a 1 year low of $95.12 and a 1 year high of $141.77.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.30 earnings per share. On average, sell-side analysts expect that Global Payments Inc. will post 10.95 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company 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 is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Analyst Ratings Changes

A number of research firms recently issued reports on GPN. UBS Group raised their price target on Global Payments from $130.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. BMO Capital Markets dropped their target price on Global Payments from $143.00 to $128.00 and set a “market perform” rating on the stock in a report on Thursday. Robert W. Baird decreased their price target on Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, TD Cowen reduced their target price on shares of Global Payments from $160.00 to $152.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $150.00.

Global Payments 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.