Global Payments Inc. (NYSE:GPN) Sees Large Decline in Short Interest

Global Payments Inc. (NYSE:GPN - Get Free Report) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 6,100,000 shares, a decrease of 10.8% from the January 15th total of 6,840,000 shares. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is presently 3.5 days. Approximately 2.4% of the company's shares are sold short.

Global Payments Stock Down 2.3 %

Shares of NYSE:GPN traded down $2.39 on Friday, hitting $103.19. 2,189,224 shares of the company traded hands, compared to its average volume of 1,744,548. Global Payments has a 52 week low of $91.60 and a 52 week high of $140.38. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $109.94 and a 200-day simple moving average of $108.82. The company has a market cap of $25.55 billion, a PE ratio of 16.70, a PEG ratio of 0.87 and a beta of 1.01.

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). Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. As a group, research analysts expect that Global Payments will post 11.9 earnings per share for the current year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.97%. Global Payments's payout ratio is presently 16.18%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GPN. Bank of America lowered their price objective on shares of 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 downgraded shares of Global Payments from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $125.00 to $120.00 in a research note on Friday, January 10th. Morgan Stanley lowered their price objective 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. The Goldman Sachs Group restated a "neutral" rating and issued a $122.00 price objective (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Finally, Barclays reduced their target price on Global Payments from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $134.33.

Insider Activity

In other news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $116.00 per share, with a total value of $672,800.00. Following the completion of the purchase, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. The trade was a 15.70 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On Global Payments

Several institutional investors have recently modified their holdings of GPN. Cromwell Holdings LLC purchased a new stake in shares of Global Payments during the third quarter valued at $25,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Global Payments during the third quarter valued at $25,000. Optiver Holding B.V. purchased a new stake in shares of Global Payments during the fourth quarter valued at $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Global Payments during the third quarter valued at $33,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Global Payments during the fourth quarter valued at $37,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.