Ossiam Trims Stock Holdings in Global Payments Inc. (NYSE:GPN)

Ossiam cut its position in Global Payments Inc. (NYSE:GPN - Free Report) by 86.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,138 shares of the business services provider's stock after selling 193,858 shares during the quarter. Ossiam's holdings in Global Payments were worth $3,377,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Virtu Financial LLC boosted its stake in Global Payments by 79.4% in the third quarter. Virtu Financial LLC now owns 32,107 shares of the business services provider's stock valued at $3,288,000 after acquiring an additional 14,212 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Global Payments by 5.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,315 shares of the business services provider's stock worth $544,000 after purchasing an additional 280 shares in the last quarter. Boyar Asset Management Inc. grew its stake in Global Payments by 22.4% during the 3rd quarter. Boyar Asset Management Inc. now owns 8,329 shares of the business services provider's stock worth $853,000 after buying an additional 1,525 shares during the last quarter. Sanctuary Advisors LLC increased its position in Global Payments by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 9,718 shares of the business services provider's stock valued at $995,000 after buying an additional 411 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its stake in Global Payments by 24.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 44,394 shares of the business services provider's stock valued at $4,547,000 after buying an additional 8,677 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Price Performance

Shares of Global Payments stock traded up $0.19 during trading hours on Thursday, reaching $71.95. 6,356,899 shares of the company's stock were exchanged, compared to its average volume of 2,403,388. The business has a fifty day moving average of $93.34 and a two-hundred day moving average of $104.30. 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 company has a market capitalization of $17.69 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $127.66.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. As a group, research analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Friday, March 14th. Global Payments's dividend payout ratio is presently 16.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stephens downgraded shares of Global Payments from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $125.00 to $120.00 in a report on Friday, January 10th. Barclays cut their price target on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Williams Trading set a $75.00 price objective on shares of Global Payments in a research note on Friday, April 18th. Citigroup reaffirmed a "buy" rating on shares of Global Payments in a research report on Monday. Finally, KeyCorp cut their price objective on Global Payments from $145.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $114.86.

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.