Chevy Chase Trust Holdings LLC lowered its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,547 shares of the business services provider's stock after selling 2,871 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Global Payments worth $14,965,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in GPN. Pzena Investment Management LLC increased its holdings in shares of Global Payments by 3.4% in the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider's stock valued at $679,952,000 after purchasing an additional 215,399 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Global Payments by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider's stock valued at $605,078,000 after purchasing an additional 31,934 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Global Payments by 1.5% in the third quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider's stock valued at $564,437,000 after purchasing an additional 83,481 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Global Payments by 13.4% in the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider's stock valued at $330,516,000 after purchasing an additional 349,457 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Global Payments by 22.7% in the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider's stock valued at $271,090,000 after purchasing an additional 490,411 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.
Global Payments Stock Down 0.9 %
Global Payments stock traded down $0.91 during midday trading on Thursday, reaching $105.65. The company's stock had a trading volume of 1,806,393 shares, compared to its average volume of 1,731,075. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $140.38. 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 company has a market cap of $26.16 billion, a P/E ratio of 17.10, a P/E/G ratio of 0.86 and a beta of 1.01. The business has a 50-day simple moving average of $110.36 and a 200-day simple moving average of $108.77.
Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share 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 analyst estimates of $2.31 billion. On average, research analysts expect that Global Payments Inc. will post 12.08 earnings per share for the current fiscal year.
Global Payments Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 yield of 0.95%. The ex-dividend date of this dividend is Friday, March 14th. Global Payments's dividend payout ratio is presently 16.18%.
Insider Buying and Selling at Global Payments
In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the business's stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the transaction, the director now owns 42,738 shares of the company's stock, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.98% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on GPN shares. Barclays cut their target price on Global Payments from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday. Citigroup cut their target price on Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday. Royal Bank of Canada cut their target price on Global Payments from $143.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Morgan Stanley cut their target price on Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Finally, Stephens cut Global Payments from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Global Payments presently has a consensus rating of "Moderate Buy" and an average target price of $134.33.
Read Our Latest Research Report on Global Payments
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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