Zurcher Kantonalbank Zurich Cantonalbank Purchases 37,035 Shares of Global Payments Inc. (NYSE:GPN)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Global Payments Inc. (NYSE:GPN) by 82.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,722 shares of the business services provider’s stock after buying an additional 37,035 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Global Payments were worth $10,379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Desjardins Global Asset Management Inc. boosted its stake in Global Payments by 191.3% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 20,890 shares of the business services provider’s stock valued at $2,653,000 after acquiring an additional 13,718 shares in the last quarter. SVB Wealth LLC boosted its position in shares of Global Payments by 3.9% in the 4th quarter. SVB Wealth LLC now owns 8,221 shares of the business services provider’s stock worth $1,044,000 after purchasing an additional 305 shares in the last quarter. Keel Point LLC grew its stake in Global Payments by 13.1% during the 4th quarter. Keel Point LLC now owns 3,690 shares of the business services provider’s stock worth $469,000 after buying an additional 428 shares during the last quarter. Dakota Wealth Management grew its stake in Global Payments by 0.5% during the 4th quarter. Dakota Wealth Management now owns 43,419 shares of the business services provider’s stock worth $5,514,000 after buying an additional 205 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new position in Global Payments during the 4th quarter valued at about $200,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Down 0.0 %

GPN opened at $122.13 on Friday. The company has a fifty day moving average of $130.33 and a two-hundred day moving average of $124.23. The stock has a market capitalization of $31.15 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 0.78 and a beta of 0.96. Global Payments Inc. has a fifty-two week low of $95.12 and a fifty-two week high of $141.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 0.99.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.01. The firm 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 11.44% and a net margin of 10.22%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.30 EPS. On average, research analysts expect that Global Payments Inc. will post 10.94 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, March 14th. Global Payments’s dividend payout ratio is presently 26.46%.

Analyst Ratings Changes

GPN has been the topic of a number of research analyst reports. Susquehanna boosted their price target on Global Payments from $150.00 to $160.00 and gave the stock a “positive” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. upped their price target on shares of Global Payments from $145.00 to $159.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. KeyCorp raised their price target on shares of Global Payments from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Robert W. Baird boosted their price objective on shares of Global Payments from $172.00 to $182.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Mizuho restated a “neutral” rating and issued a $129.00 target price on shares of Global Payments in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average price target of $151.92.

Global Payments Company Profile

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.