Sone Capital Management LLC Makes New $3.01 Million Investment in Global Payments Inc. (NYSE:GPN)

Sone Capital Management LLC bought a new position in Global Payments Inc. (NYSE:GPN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,827 shares of the business services provider’s stock, valued at approximately $3,006,000.

A number of other hedge funds also recently made changes to their positions in GPN. Vanguard Group Inc. lifted its stake in Global Payments by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 24,995,107 shares of the business services provider’s stock valued at $2,800,952,000 after purchasing an additional 179,195 shares during the last quarter. Pzena Investment Management LLC grew its position in Global Payments by 25.0% during the 4th quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider’s stock worth $929,969,000 after acquiring an additional 1,659,984 shares during the last quarter. Geode Capital Management LLC increased its holdings in Global Payments by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 6,230,322 shares of the business services provider’s stock worth $696,362,000 after purchasing an additional 301,877 shares in the last quarter. Norges Bank bought a new position in Global Payments in the fourth quarter valued at about $345,823,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Global Payments by 9.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,906,444 shares of the business services provider’s stock valued at $325,698,000 after purchasing an additional 259,590 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Williams Trading set a $75.00 price objective on Global Payments in a research note on Friday, April 18th. Royal Bank of Canada downgraded shares of Global Payments from an “outperform” rating to a “sector perform” rating and set a $86.00 price target for the company. in a research note on Friday, April 25th. TD Cowen cut shares of Global Payments from a “buy” rating to a “hold” rating and set a $78.00 price objective on the stock. in a research note on Monday, April 21st. Cowen downgraded Global Payments from a “buy” rating to a “hold” rating in a report on Monday, April 21st. Finally, Barclays cut their target price on Global Payments from $125.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.43.

Global Payments Stock Down 0.7%

GPN stock opened at $82.37 on Monday. The stock’s 50 day simple moving average is $85.32 and its 200 day simple moving average is $101.74. The company has a market cap of $20.09 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96. 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 Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.09. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the firm posted $2.59 EPS. Global Payments’s revenue was down .3% compared to the same quarter last year. On average, research analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.21%. Global Payments’s payout ratio is 16.13%.

About Global Payments

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.