Daiwa Securities Group Inc. Acquires 2,844 Shares of Global Payments Inc. (NYSE:GPN)

Daiwa Securities Group Inc. boosted its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 8.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,945 shares of the business services provider's stock after buying an additional 2,844 shares during the period. Daiwa Securities Group Inc.'s holdings in Global Payments were worth $4,140,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC acquired a new stake in Global Payments in the third quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new stake in shares of Global Payments in the 4th quarter worth $37,000. Quintet Private Bank Europe S.A. bought a new stake in shares of Global Payments in the 4th quarter worth $38,000. LRI Investments LLC lifted its holdings 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 valued at $53,000 after buying an additional 251 shares during the period. Finally, Manchester Capital Management LLC boosted its stake in Global Payments by 177.5% during 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. Institutional investors and hedge funds own 89.76% of the company's stock.

Insider Activity at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the business's stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the acquisition, the director now directly owns 42,738 shares in the company, valued at approximately $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.98% of the company's stock.

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Global Payments Stock Down 0.8 %

Shares of Global Payments stock traded down $0.74 on Thursday, hitting $92.16. 3,094,715 shares of the company traded hands, compared to its average volume of 2,072,592. 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 company has a market cap of $22.82 billion, a PE ratio of 14.91, a PEG ratio of 0.86 and a beta of 1.04. The company has a 50-day moving average price of $106.42 and a 200 day moving average price of $108.29.

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 analysts' expectations of $2.31 billion. Sell-side analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. Global Payments's dividend payout ratio is currently 16.18%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GPN shares. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. Citigroup decreased their price target on shares of Global Payments from $138.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Morgan Stanley decreased their target price on Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Barclays cut their target price on Global Payments from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. One research 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 MarketBeat, Global Payments currently has an average rating of "Moderate Buy" and an average price target 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.