Summit Global Investments Invests $212,000 in Global Payments Inc. (NYSE:GPN)

Summit Global Investments acquired a new stake in shares of Global Payments Inc. (NYSE:GPN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,891 shares of the business services provider’s stock, valued at approximately $212,000.

Other large investors have also recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in Global Payments by 0.3% during the third quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock valued at $2,760,000 after purchasing an additional 86 shares during the last quarter. Sage Capital Advisors llc increased its holdings in shares of Global Payments by 0.3% in the 4th quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider’s stock worth $3,164,000 after buying an additional 96 shares during the last quarter. SYM FINANCIAL Corp increased its stake in Global Payments by 4.1% in the third quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock valued at $250,000 after acquiring an additional 97 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Global Payments by 11.2% during the 4th quarter. Private Trust Co. NA now owns 992 shares of the business services provider’s stock valued at $111,000 after buying an additional 100 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in shares of Global Payments by 2.9% in the 4th quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider’s stock worth $413,000 after acquiring an additional 103 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GPN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Bank of America cut their target price on Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Barclays decreased their price objective on shares of Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Citigroup reduced their price objective on Global Payments from $138.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $122.00 target price (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and a consensus price target of $134.33.

Global Payments Stock Down 0.2 %

Shares of Global Payments stock opened at $98.82 on Wednesday. The company has a market cap of $24.30 billion, a P/E ratio of 15.99, a PEG ratio of 0.86 and a beta of 1.04. Global Payments Inc. has a one year low of $90.99 and a one year high of $136.36. The firm has a fifty day moving average of $104.31 and a two-hundred day moving average of $107.55. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. On average, analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 14th. Global Payments’s dividend payout ratio is currently 16.18%.

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.