LSV Asset Management Sells 39,200 Shares of Global Payments Inc. (NYSE:GPN)

LSV Asset Management cut its position in Global Payments Inc. (NYSE:GPN - Free Report) by 11.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 305,500 shares of the business services provider's stock after selling 39,200 shares during the quarter. LSV Asset Management owned about 0.12% of Global Payments worth $34,234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GPN. Integrated Wealth Concepts LLC acquired a new stake in Global Payments in the 3rd quarter worth about $209,000. Orion Portfolio Solutions LLC increased its holdings in shares of Global Payments by 172.2% during the third quarter. Orion Portfolio Solutions LLC now owns 18,332 shares of the business services provider's stock worth $1,878,000 after purchasing an additional 11,597 shares during the period. MML Investors Services LLC raised its position in shares of Global Payments by 7.1% in the third quarter. MML Investors Services LLC now owns 21,169 shares of the business services provider's stock valued at $2,168,000 after buying an additional 1,397 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Global Payments by 6.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 77,386 shares of the business services provider's stock valued at $7,926,000 after buying an additional 4,692 shares during the period. Finally, Geode Capital Management LLC grew its position in Global Payments by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider's stock worth $605,078,000 after buying an additional 31,934 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup reduced their target price on Global Payments from $138.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. Keefe, Bruyette & Woods decreased their target price on shares of Global Payments from $140.00 to $135.00 and set an "outperform" rating on the stock in a report on Monday, March 31st. Morgan Stanley cut their price target on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Bank of America decreased their price objective on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock 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, twelve have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $129.81.

Global Payments Trading Up 0.5 %

NYSE GPN traded up $0.39 during mid-day trading on Tuesday, reaching $85.45. 1,521,910 shares of the stock were exchanged, compared to its average volume of 2,242,503. The stock has a market cap of $21.01 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. Global Payments Inc. has a one year low of $77.83 and a one year high of $127.66. The stock has a 50 day simple moving average of $98.06 and a 200-day simple moving average of $105.60.

Global Payments (NYSE:GPN - Get Free Report) last released 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). 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 for the quarter, compared to the consensus estimate of $2.31 billion. On average, analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Global Payments's dividend payout ratio 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.