Teacher Retirement System of Texas purchased a new position in Global Payments Inc (NYSE:GPN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 157,204 shares of the business services provider’s stock, valued at approximately $28,699,000. Teacher Retirement System of Texas owned about 0.05% of Global Payments at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in shares of Global Payments by 1.4% in the 4th quarter. State Street Corp now owns 11,773,243 shares of the business services provider’s stock worth $2,149,323,000 after purchasing an additional 158,819 shares during the last quarter. BlackRock Inc. raised its position in Global Payments by 4.3% in the 2nd quarter. BlackRock Inc. now owns 11,019,167 shares of the business services provider’s stock worth $1,764,501,000 after buying an additional 452,606 shares during the last quarter. Synovus Financial Corp raised its position in Global Payments by 622,774.1% in the 3rd quarter. Synovus Financial Corp now owns 9,293,282 shares of the business services provider’s stock worth $1,477,630,000 after buying an additional 9,291,790 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Global Payments by 47.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,702,977 shares of the business services provider’s stock worth $1,383,773,000 after buying an additional 2,810,085 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Global Payments by 47.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,231,927 shares of the business services provider’s stock worth $354,876,000 after buying an additional 718,565 shares during the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.
GPN stock traded up $2.65 during midday trading on Friday, hitting $205.38. The company’s stock had a trading volume of 85,080 shares, compared to its average volume of 1,525,887. Global Payments Inc has a 12 month low of $120.20 and a 12 month high of $206.18. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $61.50 billion, a price-to-earnings ratio of 82.50, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00. The company has a 50 day moving average of $194.12 and a two-hundred day moving average of $174.32.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.38%. This is an increase from Global Payments’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, March 12th. Global Payments’s dividend payout ratio is presently 15.03%.
GPN has been the subject of a number of recent analyst reports. Susquehanna Bancshares boosted their target price on Global Payments from to and gave the stock a “buy” rating in a research report on Thursday. Cowen reissued an “outperform” rating and issued a $206.00 target price (up previously from $195.00) on shares of Global Payments in a research report on Friday, December 13th. UBS Group boosted their target price on Global Payments from $227.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley boosted their target price on Global Payments from $137.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird boosted their target price on Global Payments from $212.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $205.53.
In other news, Director William I. Jacobs sold 600 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $193.70, for a total transaction of $116,220.00. Following the completion of the transaction, the director now directly owns 26,588 shares in the company, valued at approximately $5,150,095.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joia M. Johnson bought 560 shares of the stock in a transaction dated Monday, December 2nd. The shares were purchased at an average price of $178.45 per share, with a total value of $99,932.00. Following the completion of the transaction, the director now directly owns 2,347 shares in the company, valued at approximately $418,822.15. The disclosure for this purchase can be found here. Corporate insiders own 0.88% of the company’s stock.
About Global Payments
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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