Allspring Global Investments Holdings LLC Reduces Holdings in Global Payments Inc. (NYSE:GPN)

Allspring Global Investments Holdings LLC lessened its position in shares of Global Payments Inc. (NYSE:GPN) by 3.0% during the first quarter, Holdings Channel reports. The institutional investor owned 12,554 shares of the business services provider’s stock after selling 383 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Global Payments were worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Fulton Bank N.A. increased its stake in Global Payments by 1.7% in the 4th quarter. Fulton Bank N.A. now owns 5,409 shares of the business services provider’s stock worth $687,000 after acquiring an additional 93 shares during the last quarter. Wedmont Private Capital increased its stake in Global Payments by 0.7% in the 4th quarter. Wedmont Private Capital now owns 13,740 shares of the business services provider’s stock worth $1,828,000 after acquiring an additional 98 shares during the last quarter. Oliver Luxxe Assets LLC increased its stake in Global Payments by 0.3% in the 1st quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock worth $4,603,000 after acquiring an additional 108 shares during the last quarter. West Paces Advisors Inc. increased its stake in Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares during the last quarter. Finally, KB Financial Partners LLC increased its stake in Global Payments by 2.9% in the 3rd quarter. KB Financial Partners LLC now owns 4,069 shares of the business services provider’s stock worth $470,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insiders Place Their Bets

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the completion of the sale, the vice president now owns 25,209 shares in the company, valued at approximately $2,806,770.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

GPN has been the topic of a number of research analyst reports. Citigroup decreased their target price on Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barclays cut their price objective on Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. KeyCorp cut their price objective on Global Payments from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. TD Cowen cut their price objective on Global Payments from $152.00 to $125.00 and set a “buy” rating for the company in a report on Friday, June 21st. Finally, Susquehanna cut their price objective on Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Global Payments Trading Down 0.6 %

NYSE GPN opened at $96.55 on Thursday. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day simple moving average of $103.95 and a two-hundred day simple moving average of $121.05. The stock has a market cap of $24.64 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 0.62 and a beta of 0.98.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.07. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.17 billion. On average, analysts forecast that Global Payments Inc. will post 11.09 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is currently 19.84%.

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.