Everence Capital Management Inc. Sells 2,880 Shares of Global Payments Inc. (NYSE:GPN)

Everence Capital Management Inc. decreased its position in Global Payments Inc. (NYSE:GPN) by 33.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,710 shares of the business services provider’s stock after selling 2,880 shares during the period. Everence Capital Management Inc.’s holdings in Global Payments were worth $725,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BluePath Capital Management LLC bought a new stake in Global Payments in the 3rd quarter valued at approximately $27,000. Clear Street Markets LLC bought a new stake in Global Payments in the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Global Payments during the 4th quarter worth approximately $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Global Payments during the 4th quarter worth approximately $41,000. Finally, Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Global Payments during the 3rd quarter worth approximately $47,000. Institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

Shares of GPN stock opened at $122.95 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.67. Global Payments Inc. has a twelve month low of $95.12 and a twelve month high of $141.77. The company has a market cap of $31.36 billion, a P/E ratio of 32.53, a P/E/G ratio of 0.79 and a beta of 0.96. The business has a fifty day simple moving average of $130.89 and a 200 day simple moving average of $124.21.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.01. Global Payments had a return on equity of 11.44% and a net margin of 10.22%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the firm posted $2.30 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Global Payments Inc. will post 10.94 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.81%. Global Payments’s dividend payout ratio is presently 26.46%.

Wall Street Analyst Weigh In

GPN has been the topic of several recent analyst reports. BMO Capital Markets lowered their price target on Global Payments from $138.00 to $137.00 and set a “market perform” rating on the stock in a research report on Thursday, February 15th. B. Riley boosted their target price on Global Payments from $180.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Mizuho reissued a “neutral” rating and set a $129.00 target price on shares of Global Payments in a report on Wednesday, March 27th. Wedbush boosted their target price on Global Payments from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 10th. Finally, Susquehanna boosted their target price on Global Payments from $150.00 to $160.00 and gave the stock a “positive” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Global Payments presently has an average rating of “Moderate Buy” and an average price target of $151.92.

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.