Andra AP fonden Sells 23,100 Shares of Global Payments Inc. (NYSE:GPN)

Andra AP fonden lowered its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 40.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,100 shares of the business services provider's stock after selling 23,100 shares during the quarter. Andra AP fonden's holdings in Global Payments were worth $3,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nordea Investment Management AB boosted its position in Global Payments by 13.4% during the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider's stock worth $330,516,000 after purchasing an additional 349,457 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Global Payments by 65.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider's stock worth $203,047,000 after acquiring an additional 785,539 shares during the last quarter. Entropy Technologies LP bought a new stake in Global Payments during the third quarter valued at about $562,000. Caprock Group LLC grew its position in shares of Global Payments by 9.8% in the fourth quarter. Caprock Group LLC now owns 2,313 shares of the business services provider's stock valued at $259,000 after purchasing an additional 206 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Global Payments by 106.1% in the fourth quarter. Van ECK Associates Corp now owns 50,705 shares of the business services provider's stock worth $5,682,000 after purchasing an additional 26,104 shares during the period. Institutional investors and hedge funds own 89.76% of the company's stock.

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Global Payments Trading Down 0.3 %

NYSE:GPN traded down $0.24 on Wednesday, reaching $93.01. The company's stock had a trading volume of 2,159,648 shares, compared to its average volume of 1,892,641. The firm has a market cap of $23.03 billion, a PE ratio of 15.05, a PEG ratio of 0.86 and a beta of 1.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. The business's 50-day moving average price is $107.19 and its two-hundred day moving average price is $108.51. Global Payments Inc. has a 1-year low of $90.99 and a 1-year high of $140.38.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Equities research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. Global Payments's dividend payout ratio is currently 16.18%.

Wall Street Analysts Forecast Growth

GPN has been the subject of a number of research analyst reports. Barclays cut their price target on Global Payments from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Morgan Stanley decreased their price target on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Citigroup cut their price objective on shares of Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $122.00 price target (down previously from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Finally, Stephens lowered Global Payments from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $125.00 to $120.00 in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Global Payments presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.33.

Insider Buying and Selling

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the transaction, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is owned by corporate insiders.

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.