Princeton Portfolio Strategies Group LLC Buys 1,430 Shares of Global Payments Inc (GPN)
Princeton Portfolio Strategies Group LLC lifted its stake in shares of Global Payments Inc (NYSE:GPN) by 34.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,602 shares of the business services provider’s stock after acquiring an additional 1,430 shares during the quarter. Princeton Portfolio Strategies Group LLC’s holdings in Global Payments were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of GPN. Federated Investors Inc. PA increased its holdings in Global Payments by 4.8% in the first quarter. Federated Investors Inc. PA now owns 418,751 shares of the business services provider’s stock valued at $57,168,000 after buying an additional 19,216 shares during the last quarter. Corient Capital Partners LLC acquired a new position in Global Payments in the first quarter valued at $212,000. AJO LP acquired a new stake in shares of Global Payments during the first quarter worth about $1,042,000. Lee Capital Asset Management LLC boosted its stake in shares of Global Payments by 33.6% during the first quarter. Lee Capital Asset Management LLC now owns 45,433 shares of the business services provider’s stock worth $6,203,000 after buying an additional 11,433 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Global Payments by 2.7% during the first quarter. Swiss National Bank now owns 528,169 shares of the business services provider’s stock worth $72,106,000 after buying an additional 13,900 shares during the period. 97.44% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Global Payments from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Mizuho raised their price objective on shares of Global Payments to $136.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. Nomura raised their price objective on shares of Global Payments from $91.00 to $94.00 and gave the stock a “reduce” rating in a research note on Monday, February 11th. Jefferies Financial Group assumed coverage on shares of Global Payments in a research note on Thursday, February 28th. They set a “buy” rating and a $150.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Global Payments from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $146.31.
NYSE GPN traded down $2.54 during mid-day trading on Monday, reaching $151.50. 11,506 shares of the stock were exchanged, compared to its average volume of 1,655,231. Global Payments Inc has a 1-year low of $94.81 and a 1-year high of $158.73. The firm has a market cap of $24.21 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 1.56 and a beta of 1.07. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.03 and a current ratio of 1.03.
Global Payments (NYSE:GPN) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $1.13 earnings per share. Global Payments’s revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that Global Payments Inc will post 5.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is currently 0.77%.
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Global Payments Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
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