Global Payments Inc. (NYSE:GPN) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 83.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,339 shares of the business services provider's stock after selling 324,577 shares during the quarter. Wellington Management Group LLP's holdings in Global Payments were worth $7,322,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Nordea Investment Management AB boosted its stake in shares of Global Payments by 13.4% during the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider's stock valued at $330,516,000 after purchasing an additional 349,457 shares during the period. Caprock Group LLC grew its holdings in Global Payments by 9.8% in the 4th quarter. Caprock Group LLC now owns 2,313 shares of the business services provider's stock worth $259,000 after acquiring an additional 206 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Global Payments by 106.1% in the fourth quarter. Van ECK Associates Corp now owns 50,705 shares of the business services provider's stock valued at $5,682,000 after acquiring an additional 26,104 shares during the period. Focused Investors LLC bought a new position in shares of Global Payments during the fourth quarter valued at about $99,969,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Global Payments by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,614,533 shares of the business services provider's stock worth $180,925,000 after purchasing an additional 72,992 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Remove Ads

Global Payments Stock Down 0.2 %

Shares of NYSE GPN traded down $0.16 during midday trading on Wednesday, reaching $85.27. 217,160 shares of the company's stock traded hands, compared to its average volume of 2,234,568. The stock's 50 day simple moving average is $97.55 and its 200-day simple moving average is $105.46. The company has a market cap of $20.96 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.86 and a beta of 0.97. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. 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 issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.14). The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. On average, analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Global Payments's dividend payout ratio is currently 16.18%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GPN shares. Morgan Stanley decreased 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. 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 research note on Friday, February 14th. Stephens cut Global Payments from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. The Goldman Sachs Group reissued a "neutral" rating and set a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. Finally, Citigroup reduced their target price 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. 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's stock. According to data from MarketBeat, Global Payments presently has an average rating of "Hold" and an average target price of $129.81.

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.