Proficio Capital Partners LLC Makes New $5.94 Million Investment in Global Payments Inc. (NYSE:GPN)

Proficio Capital Partners LLC bought a new stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 53,026 shares of the business services provider's stock, valued at approximately $5,942,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GPN. Assetmark Inc. lifted its holdings in Global Payments by 3,308.8% in the 4th quarter. Assetmark Inc. now owns 3,852 shares of the business services provider's stock worth $432,000 after purchasing an additional 3,739 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in Global Payments by 12.7% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,316 shares of the business services provider's stock worth $257,000 after acquiring an additional 261 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Global Payments by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,614,533 shares of the business services provider's stock worth $180,925,000 after acquiring an additional 72,992 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Global Payments by 0.6% during the fourth quarter. State of Michigan Retirement System now owns 83,978 shares of the business services provider's stock valued at $9,411,000 after acquiring an additional 500 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Global Payments by 3.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 64,264 shares of the business services provider's stock valued at $7,201,000 after purchasing an additional 2,181 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

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Wall Street Analyst Weigh In

GPN has been the topic of a number of research analyst reports. Citigroup lowered 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 cut their target price 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. Stephens lowered shares of Global Payments from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $125.00 to $120.00 in a research report on Friday, January 10th. StockNews.com raised shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $122.00 price target (down from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. 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's stock. According to MarketBeat, Global Payments currently has a consensus rating of "Moderate Buy" and an average target price of $134.33.

Global Payments Price Performance

Shares of NYSE:GPN traded down $0.82 during midday trading on Thursday, reaching $97.30. The company's stock had a trading volume of 1,044,723 shares, compared to its average volume of 2,067,167. The business's fifty day simple moving average is $105.10 and its 200-day simple moving average is $107.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. Global Payments Inc. has a fifty-two week low of $90.99 and a fifty-two week high of $136.36. The company has a market capitalization of $23.92 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.86 and a beta of 1.04.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. As a group, equities 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 disclosed 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 1.03%. The ex-dividend date is Friday, March 14th. Global Payments's dividend payout ratio (DPR) is presently 16.18%.

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.