Global Payments Inc. $GPN Stock Sold by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its holdings in Global Payments Inc. (NYSE:GPN) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,377,172 shares of the business services provider’s stock after selling 314,453 shares during the period. Global Payments comprises approximately 2.8% of Pzena Investment Management LLC’s portfolio, making the stock its 11th largest position. Pzena Investment Management LLC owned 4.30% of Global Payments worth $929,174,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Western Wealth Management LLC acquired a new position in Global Payments during the 1st quarter worth $34,000. Nvwm LLC acquired a new stake in Global Payments in the 3rd quarter valued at about $41,000. Root Financial Partners LLC boosted its stake in shares of Global Payments by 209.8% in the 1st quarter. Root Financial Partners LLC now owns 725 shares of the business services provider’s stock valued at $49,000 after buying an additional 491 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Global Payments by 48.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 765 shares of the business services provider’s stock valued at $51,000 after buying an additional 250 shares during the period. Finally, Fortitude Family Office LLC grew its position in shares of Global Payments by 365.7% during the third quarter. Fortitude Family Office LLC now owns 624 shares of the business services provider’s stock worth $51,000 after buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Trading Down 1.9%

NYSE:GPN opened at $96.11 on Thursday. The company has a market capitalization of $25.43 billion, a PE ratio of -32.25, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Global Payments Inc. has a 52-week low of $61.16 and a 52-week high of $101.32. The stock has a fifty day simple moving average of $86.57 and a 200-day simple moving average of $77.31.

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

Analysts Set New Price Targets

GPN has been the topic of a number of recent research reports. Royal Bank Of Canada restated a “sector perform” rating and set a $106.00 target price (up from $102.00) on shares of Global Payments in a research note on Monday, August 31st. KeyCorp raised Global Payments from a “sector weight” rating to an “overweight” rating and set a $105.00 price objective for the company in a research report on Monday, October 19th. 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. UBS Group began coverage on Global Payments in a report on Thursday, August 6th. They issued a “buy” rating for the company. Finally, William Blair restated a “market perform” rating on shares of Global Payments in a research report on Friday, October 30th. Thirteen research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Global Payments presently has an average rating of “Hold” and a consensus target price of $95.55.

Global Payments 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.