US Bancorp DE Sells 2,822 Shares of Global Payments Inc. (NYSE:GPN)

US Bancorp DE cut its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,400 shares of the business services provider's stock after selling 2,822 shares during the quarter. US Bancorp DE's holdings in Global Payments were worth $4,976,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC acquired a new stake in shares of Global Payments in the third quarter worth about $25,000. Capital Performance Advisors LLP bought a new stake in shares of Global Payments during the 3rd quarter worth $33,000. Whipplewood Advisors LLC bought a new stake in shares of Global Payments during the 4th quarter worth $37,000. LRI Investments LLC boosted its holdings in shares of Global Payments by 94.4% during the 3rd quarter. LRI Investments LLC now owns 517 shares of the business services provider's stock worth $53,000 after buying an additional 251 shares during the period. Finally, Manchester Capital Management LLC boosted its holdings in shares of Global Payments by 177.5% during the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock worth $53,000 after buying an additional 300 shares during the period. 89.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GPN shares. Barclays decreased their price objective on shares of Global Payments from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. StockNews.com raised Global Payments from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $122.00 target price (down previously from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Bank of America lowered their target price on Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Finally, Citigroup dropped their price objective on shares of Global Payments from $138.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $134.33.

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Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Global Payments Stock Up 0.6 %

Shares of NYSE GPN traded up $0.65 during mid-day trading on Friday, reaching $100.79. 2,108,734 shares of the company's stock were exchanged, compared to its average volume of 2,076,793. The firm has a market capitalization of $24.96 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.86 and a beta of 1.04. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $107.84 and a 200 day simple moving average of $108.72. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $140.38.

Global Payments (NYSE:GPN - Get Free Report) last posted 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 company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. As a group, equities analysts expect 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. Shareholders of record on Friday, March 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 0.99%. Global Payments's dividend payout ratio is 16.18%.

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.