207,500 Global Payments Inc. $GPN Shares Sold by Focused Investors LLC

Focused Investors LLC cut its holdings in shares of Global Payments Inc. (NYSE:GPN) by 16.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,093,300 shares of the business services provider’s stock after selling 207,500 shares during the period. Global Payments comprises about 3.7% of Focused Investors LLC’s portfolio, making the stock its 14th biggest position. Focused Investors LLC’s holdings in Global Payments were worth $89,290,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Gtcr LLC purchased a new stake in Global Payments during the 1st quarter worth approximately $2,911,939,000. Pzena Investment Management LLC acquired a new position in shares of Global Payments in the second quarter worth $848,344,000. Deutsche Bank AG acquired a new position in shares of Global Payments in the second quarter worth $138,781,000. Legal & General Group Plc purchased a new stake in shares of Global Payments during the second quarter worth $120,036,000. Finally, Davis Asset Management L.P. purchased a new stake in shares of Global Payments during the second quarter worth $107,752,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GPN shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $103.00 price target on shares of Global Payments in a research report on Thursday, August 6th. Citigroup restated a “buy” rating on shares of Global Payments in a research note on Thursday, August 6th. Loop Capital began coverage on shares of Global Payments in a report on Thursday, September 24th. They issued a “buy” rating and a $137.00 target price on the stock. TD Cowen lifted their price target on shares of Global Payments from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, August 26th. Finally, Weiss Ratings upgraded shares of Global Payments from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.55.

Global Payments Price Performance

GPN stock opened at $98.01 on Wednesday. The business has a 50 day moving average price of $86.53 and a 200 day moving average price of $77.20. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The stock has a market cap of $25.93 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.49 and a beta of 0.83. Global Payments Inc. has a fifty-two week low of $61.16 and a fifty-two week high of $101.32.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, August 5th. The business services provider reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.02. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Global Payments had a negative net margin of 9.16% and a positive return on equity of 13.80%. The firm’s revenue for the quarter was up 68.6% on a year-over-year basis. During the same quarter last year, the company earned $3.10 earnings per share. Equities research analysts anticipate that Global Payments Inc. will post 13.64 earnings per share for the current fiscal year.

Global Payments Company Profile

Global Payments Inc (NYSE:GPN) is a financial technology and payments company that provides software and payment solutions to businesses, financial institutions and other organizations. Its services help merchants accept payments through credit cards, debit cards, digital wallets and other electronic methods across in-store, online and mobile channels.

The company offers payment processing, point-of-sale technology, commerce management software, payment security and reporting tools. Its solutions are used in industries including retail, restaurants, hospitality, healthcare, education and government.