Global Payments Inc. (NYSE:GPN) Stake Boosted by Pzena Investment Management LLC

Pzena Investment Management LLC boosted its stake in Global Payments Inc. (NYSE:GPN) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,298,846 shares of the business services provider’s stock after purchasing an additional 1,659,984 shares during the period. Global Payments comprises 3.2% of Pzena Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Pzena Investment Management LLC’s holdings in Global Payments were worth $929,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Beaird Harris Wealth Management LLC purchased a new position in Global Payments in the 3rd quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new position in Global Payments in the 3rd quarter worth approximately $33,000. Whipplewood Advisors LLC purchased a new position in Global Payments in the 4th quarter worth approximately $37,000. Quintet Private Bank Europe S.A. purchased a new position in Global Payments in the 4th quarter worth approximately $38,000. Finally, Manchester Capital Management LLC increased its stake in Global Payments by 177.5% in the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider’s stock worth $53,000 after purchasing an additional 300 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on GPN. Barclays decreased their price target on Global Payments from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their target price on Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Stephens cut Global Payments from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $125.00 to $120.00 in a research note on Friday, January 10th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $122.00 target price (down from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.33.

Global Payments Trading Down 3.7 %

Global Payments stock opened at $97.06 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $107.57 and its two-hundred day simple moving average is $108.63. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $140.38. The company has a market capitalization of $24.03 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04.

Global Payments (NYSE:GPN) last released its earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.14). Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. As a group, equities analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, March 14th. Global Payments’s dividend payout ratio (DPR) is 16.18%.

Insiders Place Their Bets

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the company’s stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $116.00 per share, with a total value of $672,800.00. Following the completion of the acquisition, the director now owns 42,738 shares of the company’s stock, valued at $4,957,608. The trade was a 15.70 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

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.