Headlands Technologies LLC Sells 21,060 Shares of Global Payments Inc. (NYSE:GPN)

Headlands Technologies LLC cut its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 96.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 804 shares of the business services provider's stock after selling 21,060 shares during the period. Headlands Technologies LLC's holdings in Global Payments were worth $90,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Beaird Harris Wealth Management LLC bought a new position in shares of Global Payments in the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new position in Global Payments in the fourth quarter worth $37,000. Quintet Private Bank Europe S.A. bought a new position in Global Payments in the fourth quarter worth $38,000. Manchester Capital Management LLC lifted its position in Global Payments by 177.5% during the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock valued at $53,000 after buying an additional 300 shares during the period. Finally, 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 valued at $53,000 after buying an additional 251 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Stock Performance

Global Payments stock traded up $1.75 during mid-day trading on Friday, reaching $84.99. 2,832,818 shares of the stock traded hands, compared to its average volume of 2,238,486. Global Payments Inc. has a 12-month low of $77.83 and a 12-month high of $127.66. The business's 50-day moving average is $98.59 and its 200-day moving average is $105.66. 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 capitalization of $20.90 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97.

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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 (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $2.31 billion. As a group, sell-side analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

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 $0.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.18%. Global Payments's payout ratio is presently 16.18%.

Analysts Set New Price Targets

GPN has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a "neutral" rating and set a $122.00 price target (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. StockNews.com raised shares of Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Evercore ISI began coverage on Global Payments in a research report on Wednesday. They issued an "in-line" rating and a $85.00 price target on the stock. Citigroup reduced their price objective on Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Finally, Morgan Stanley lowered their price objective on Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $130.52.

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.