Cibc World Markets Corp Has $4.50 Million Stake in Global Payments Inc. (NYSE:GPN)

Cibc World Markets Corp trimmed its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,176 shares of the business services provider's stock after selling 9,169 shares during the period. Cibc World Markets Corp's holdings in Global Payments were worth $4,502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPN. Beaird Harris Wealth Management LLC acquired a new position in shares of Global Payments during the 3rd quarter worth about $25,000. Whipplewood Advisors LLC acquired a new position in shares of Global Payments during the fourth quarter worth approximately $37,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Global Payments during the fourth quarter worth approximately $38,000. LRI Investments LLC grew its stake in shares of Global Payments by 94.4% in the third quarter. LRI Investments LLC now owns 517 shares of the business services provider's stock worth $53,000 after acquiring an additional 251 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of Global Payments by 177.5% in the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock worth $53,000 after acquiring an additional 300 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Trading Up 2.1 %

NYSE:GPN traded up $2.08 during trading hours on Monday, hitting $99.13. The stock had a trading volume of 2,341,404 shares, compared to its average volume of 2,081,790. The business's 50 day moving average is $104.65 and its 200-day moving average is $107.68. 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 company has a market cap of $24.37 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 0.86 and a beta of 1.04. Global Payments Inc. has a one year low of $90.99 and a one year high of $136.36.

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

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, March 14th. Global Payments's dividend payout ratio (DPR) is presently 16.18%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $122.00 price target (down 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 reduced their target price for the company from $125.00 to $120.00 in a research note on Friday, January 10th. StockNews.com raised Global Payments from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Barclays decreased their price objective on Global Payments from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Finally, 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, February 18th. 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $134.33.

Global Payments 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.