Intech Investment Management LLC Buys 7,523 Shares of Global Payments Inc. (NYSE:GPN)

Intech Investment Management LLC increased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 294.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,076 shares of the business services provider's stock after buying an additional 7,523 shares during the period. Intech Investment Management LLC's holdings in Global Payments were worth $1,129,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC acquired a new position in shares of Global Payments during the third quarter worth $25,000. Whipplewood Advisors LLC bought a new position in Global Payments during the 4th quarter worth $37,000. Quintet Private Bank Europe S.A. acquired a new position in Global Payments during the 4th quarter worth about $38,000. Manchester Capital Management LLC grew its position in shares of Global Payments by 177.5% in the 4th 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 last quarter. Finally, LRI Investments LLC increased its stake 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 valued at $53,000 after buying an additional 251 shares during the period. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Up 0.5 %

Global Payments stock traded up $0.46 during midday trading on Tuesday, hitting $99.47. 264,688 shares of the stock were exchanged, compared to its average volume of 2,032,756. Global Payments Inc. has a 52-week low of $90.99 and a 52-week high of $136.36. 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 business's 50-day moving average price is $104.49 and its 200-day moving average price is $107.61. The stock has a market capitalization of $24.46 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04.

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

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 14th. Global Payments's dividend payout ratio (DPR) is currently 16.18%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays cut their price objective 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. Bank of America dropped their price target on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Keefe, Bruyette & Woods increased their price objective on shares of Global Payments from $130.00 to $140.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Stephens lowered shares of Global Payments from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $125.00 to $120.00 in a report on Friday, January 10th. Finally, StockNews.com upgraded Global Payments from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $134.33.

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.