Fosun International Ltd Has $636,000 Position in Global Payments Inc. (NYSE:GPN)

Fosun International Ltd lowered its holdings in Global Payments Inc. (NYSE:GPN) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,010 shares of the business services provider’s stock after selling 490 shares during the quarter. Global Payments comprises about 0.1% of Fosun International Ltd’s investment portfolio, making the stock its 26th largest position. Fosun International Ltd’s holdings in Global Payments were worth $636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Global Payments by 58.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,684 shares of the business services provider’s stock valued at $1,348,000 after acquiring an additional 4,295 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Global Payments by 2.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 43,274 shares of the business services provider’s stock valued at $4,993,000 after purchasing an additional 1,240 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in Global Payments by 2.0% in the third quarter. Stratos Wealth Partners LTD. now owns 4,707 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 94 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in Global Payments by 26.1% in the third quarter. Verdence Capital Advisors LLC now owns 6,352 shares of the business services provider’s stock valued at $733,000 after purchasing an additional 1,313 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new stake in Global Payments in the third quarter valued at about $27,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Stock Performance

Shares of GPN traded up $1.07 during mid-day trading on Thursday, reaching $112.13. The company’s stock had a trading volume of 203,774 shares, compared to its average volume of 2,260,882. Global Payments Inc. has a 1-year low of $95.12 and a 1-year high of $141.77. The stock has a market cap of $28.62 billion, a P/E ratio of 22.04, a PEG ratio of 0.72 and a beta of 0.97. The business has a 50-day simple moving average of $126.61 and a two-hundred day simple moving average of $124.81. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.18 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.30 earnings per share. As a group, equities research analysts anticipate that Global Payments Inc. will post 10.95 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. Global Payments’s dividend payout ratio (DPR) is currently 19.84%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on Global Payments from $158.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Monness Crespi & Hardt lowered their price target on Global Payments from $175.00 to $165.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Robert W. Baird lowered their price target on Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Barclays lowered their price target on Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, TD Cowen lowered their price target on Global Payments from $160.00 to $152.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.00.

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.