Goodman Financial Corp Grows Stake in Global Payments Inc. (NYSE:GPN)

Goodman Financial Corp grew its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,867 shares of the business services provider's stock after purchasing an additional 2,908 shares during the period. Global Payments comprises about 3.0% of Goodman Financial Corp's holdings, making the stock its 16th largest holding. Goodman Financial Corp's holdings in Global Payments were worth $13,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Beaird Harris Wealth Management LLC purchased a new stake in Global Payments during the third quarter valued at about $25,000. Whipplewood Advisors LLC purchased a new stake in Global Payments during the 4th quarter valued at about $37,000. Quintet Private Bank Europe S.A. bought a new position in Global Payments during the 4th quarter worth approximately $38,000. Manchester Capital Management LLC lifted its position in Global Payments by 177.5% in the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Finally, LRI Investments LLC grew its holdings in shares of Global Payments by 94.4% in the third quarter. LRI Investments LLC now owns 517 shares of the business services provider's stock worth $53,000 after purchasing an additional 251 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Global Payments Price Performance

Shares of GPN traded up $2.04 during midday trading on Monday, hitting $99.09. 682,362 shares of the company traded hands, compared to its average volume of 2,075,402. Global Payments Inc. has a 52 week low of $90.99 and a 52 week high of $136.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. The firm has a 50 day moving average of $104.65 and a 200-day moving average of $107.68. The stock has a market cap of $24.36 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 0.86 and a beta of 1.04.

Global Payments (NYSE:GPN - Get Free Report) last released 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 firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.31 billion. On average, analysts forecast 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 will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, March 14th. Global Payments's dividend payout ratio is presently 16.18%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of Global Payments from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. 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. Morgan Stanley dropped their price objective on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. StockNews.com upgraded Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Bank of America reduced their price target on Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $134.33.

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.