Algebris UK Ltd reduced its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 73.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,118 shares of the business services provider's stock after selling 65,088 shares during the period. Global Payments makes up approximately 0.7% of Algebris UK Ltd's portfolio, making the stock its 27th largest position. Algebris UK Ltd's holdings in Global Payments were worth $2,610,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC purchased a new position in Global Payments in the third quarter valued at about $25,000. Whipplewood Advisors LLC purchased a new position in Global Payments in the fourth quarter valued at about $37,000. Quintet Private Bank Europe S.A. purchased a new position in Global Payments in the fourth quarter valued at about $38,000. LRI Investments LLC increased its holdings in Global Payments by 94.4% in the third quarter. LRI Investments LLC now owns 517 shares of the business services provider's stock valued at $53,000 after buying an additional 251 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Global Payments by 177.5% in the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock valued at $53,000 after buying an additional 300 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on GPN shares. Morgan Stanley dropped their target price on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a report on Friday, February 14th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $122.00 price target (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. Keefe, Bruyette & Woods increased their price target on shares of Global Payments from $130.00 to $140.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Barclays lowered their price target on shares of Global Payments from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $134.33.
Check Out Our Latest Stock Analysis on GPN
Global Payments Trading Down 0.4 %
Shares of GPN stock traded down $0.35 during mid-day trading on Friday, reaching $97.03. The company's stock had a trading volume of 4,603,590 shares, compared to its average volume of 2,080,749. The company's 50 day simple moving average is $104.65 and its 200-day simple moving average is $107.68. Global Payments Inc. has a 12-month low of $90.99 and a 12-month high of $136.36. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $23.86 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04.
Global Payments (NYSE:GPN - Get Free Report) last issued its earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.31 billion. On average, research analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.
Global Payments Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, March 14th. Global Payments's dividend payout ratio is presently 16.18%.
About Global Payments
(
Free Report)
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.
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