EVR Research LP trimmed its position in Global Payments Inc. (NYSE:GPN - Free Report) by 36.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,000 shares of the business services provider's stock after selling 70,000 shares during the quarter. Global Payments accounts for 4.5% of EVR Research LP's holdings, making the stock its 7th largest holding. EVR Research LP's holdings in Global Payments were worth $13,447,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC bought a new stake in shares of Global Payments during the 3rd quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new stake in shares of Global Payments during the fourth quarter worth $37,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Global Payments during the fourth quarter worth $38,000. Manchester Capital Management LLC lifted its stake in shares of Global Payments by 177.5% in the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Global Payments by 374.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider's stock valued at $64,000 after acquiring an additional 449 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on GPN. Bank of America lowered their target price on Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a report on Friday, February 14th. StockNews.com upgraded shares of Global Payments from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. The Goldman Sachs Group reissued a "neutral" rating and set a $122.00 target price (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Morgan Stanley dropped their price target on shares of 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, Evercore ISI initiated coverage on shares of Global Payments in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $129.81.
Check Out Our Latest Report on GPN
Global Payments Stock Up 0.5 %
Shares of GPN stock traded up $0.39 on Tuesday, reaching $85.45. 1,521,910 shares of the company were exchanged, compared to its average volume of 2,242,503. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. The company has a 50-day moving average of $98.06 and a 200-day moving average of $105.60. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.86 and a beta of 0.97. Global Payments Inc. has a one year low of $77.83 and a one year high of $127.66.
Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.14). The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current year.
Global Payments Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.17%. Global Payments's payout ratio is 16.18%.
Global Payments Company Profile
(
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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