Assetmark Inc. Has $432,000 Position in Global Payments Inc. (NYSE:GPN)

Assetmark Inc. grew its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 3,308.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,852 shares of the business services provider's stock after buying an additional 3,739 shares during the quarter. Assetmark Inc.'s holdings in Global Payments were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Tidal Investments LLC grew its stake in Global Payments by 0.3% in the 3rd quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider's stock valued at $2,760,000 after buying an additional 86 shares during the last quarter. Sage Capital Advisors llc increased its stake in shares of Global Payments by 0.3% during the fourth quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider's stock worth $3,164,000 after purchasing an additional 96 shares during the period. SYM FINANCIAL Corp increased its stake in shares of Global Payments by 4.1% during the third quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider's stock worth $250,000 after purchasing an additional 97 shares during the period. Private Trust Co. NA lifted its holdings in Global Payments by 11.2% during the 4th quarter. Private Trust Co. NA now owns 992 shares of the business services provider's stock worth $111,000 after purchasing an additional 100 shares during the last quarter. Finally, Greenleaf Trust boosted its stake in Global Payments by 5.9% in the 4th quarter. Greenleaf Trust now owns 2,068 shares of the business services provider's stock valued at $232,000 after purchasing an additional 115 shares during the period. Institutional investors own 89.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating and set a $122.00 target price (down previously from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Stephens cut shares of Global Payments from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Global Payments from $130.00 to $140.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Bank of America lowered their target price on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Finally, StockNews.com upgraded Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.33.

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Insider Transactions at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the company's stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $116.00 per share, with a total value of $672,800.00. Following the transaction, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.98% of the company's stock.

Global Payments Stock Performance

NYSE:GPN opened at $93.01 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. Global Payments Inc. has a twelve month low of $90.99 and a twelve month high of $140.38. The company has a fifty day moving average of $106.81 and a 200-day moving average of $108.40. The firm has a market capitalization of $23.03 billion, a P/E ratio of 15.05, a P/E/G 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 firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. As a group, sell-side analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, March 14th. Global Payments's dividend payout ratio (DPR) is presently 16.18%.

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.

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