Pettee Investors Inc. Invests $1.42 Million in Global Payments Inc. (NYSE:GPN)

Pettee Investors Inc. acquired a new stake in Global Payments Inc. (NYSE:GPN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,632 shares of the business services provider's stock, valued at approximately $1,416,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC bought a new position in Global Payments in the 3rd quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in shares of Global Payments in the third quarter valued at approximately $33,000. Whipplewood Advisors LLC acquired a new position in shares of Global Payments during the fourth quarter valued at approximately $37,000. Quintet Private Bank Europe S.A. bought a new stake in Global Payments during the fourth quarter worth approximately $38,000. Finally, LRI Investments LLC lifted its position in 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 period. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Trading Down 0.8 %

Shares of Global Payments stock traded down $0.74 on Thursday, hitting $92.16. 3,094,715 shares of the company's stock traded hands, compared to its average volume of 2,080,957. Global Payments Inc. has a one year low of $90.99 and a one year high of $140.38. 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 $22.82 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04. The firm's 50-day moving average price is $106.81 and its two-hundred day moving average price is $108.40.

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Global Payments (NYSE:GPN - Get Free Report) last issued its 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). The company 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 company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. Global Payments's dividend payout ratio is 16.18%.

Insider Activity

In other Global Payments news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the business's stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the acquisition, the director now directly owns 42,738 shares of the company's stock, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GPN has been the subject of a number of research analyst reports. Citigroup cut their price target on shares of Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Barclays decreased 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, February 18th. Stephens downgraded Global Payments from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $125.00 to $120.00 in a report on Friday, January 10th. Morgan Stanley reduced 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. Finally, StockNews.com raised shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $134.33.

About Global Payments

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.