Global Payments Inc. (NYSE:GPN) Stake Reduced by Weitz Investment Management Inc.

Weitz Investment Management Inc. trimmed its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 589,600 shares of the business services provider's stock after selling 20,400 shares during the quarter. Global Payments accounts for approximately 3.4% of Weitz Investment Management Inc.'s portfolio, making the stock its 10th largest holding. Weitz Investment Management Inc. owned about 0.23% of Global Payments worth $66,071,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GPN. Townsquare Capital LLC raised its stake in shares of Global Payments by 4.4% during the 3rd quarter. Townsquare Capital LLC now owns 3,892 shares of the business services provider's stock worth $399,000 after buying an additional 165 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in Global Payments in the third quarter worth $323,000. Public Sector Pension Investment Board lifted its holdings in Global Payments by 17.0% in the third quarter. Public Sector Pension Investment Board now owns 11,017 shares of the business services provider's stock valued at $1,128,000 after acquiring an additional 1,600 shares during the period. Verition Fund Management LLC boosted its position in shares of Global Payments by 388.7% during the 3rd quarter. Verition Fund Management LLC now owns 54,692 shares of the business services provider's stock worth $5,602,000 after purchasing an additional 43,500 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Global Payments during the 3rd quarter worth $2,009,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

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Global Payments Trading Down 8.8 %

NYSE:GPN traded down $8.16 during mid-day trading on Friday, reaching $84.82. The company's stock had a trading volume of 6,326,947 shares, compared to its average volume of 2,180,256. 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 stock has a market cap of $20.85 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.86 and a beta of 0.97. The company's fifty day simple moving average is $102.35 and its two-hundred day simple moving average is $106.79. Global Payments Inc. has a twelve month low of $84.50 and a twelve month high of $129.35.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. On average, equities analysts predict that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid 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 1.18%. Global Payments's dividend payout ratio is presently 16.18%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com raised shares of Global Payments from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Barclays decreased their price target on Global Payments from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $122.00 price objective (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Citigroup lowered 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. Finally, Morgan Stanley dropped their price target on Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.10.

About Global Payments

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.