Scotia Capital Inc. decreased its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 83.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,600 shares of the business services provider's stock after selling 23,542 shares during the period. Scotia Capital Inc.'s holdings in Global Payments were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC acquired a new stake in Global Payments during the third quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new position in Global Payments in the fourth quarter valued at $37,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Global Payments during the fourth quarter worth about $38,000. Manchester Capital Management LLC lifted its holdings 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 purchasing an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Global Payments by 374.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider's stock worth $64,000 after buying an additional 449 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Evercore ISI began coverage on shares of Global Payments in a report on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 target price on the stock. Jefferies Financial Group cut Global Payments from a "buy" rating to a "hold" rating in a research report on Friday. Barclays lowered their target price on Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday. Stephens downgraded shares of Global Payments from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $125.00 to $120.00 in a research report on Friday, January 10th. Finally, Keefe, Bruyette & Woods downgraded Global Payments from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $135.00 to $78.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Global Payments has an average rating of "Hold" and an average target price of $124.73.
Read Our Latest Report on GPN
Global Payments Stock Performance
Shares of Global Payments stock traded down $14.62 on Friday, reaching $69.50. The stock had a trading volume of 17,553,278 shares, compared to its average volume of 2,319,327. The stock has a market cap of $17.09 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. The business's 50-day moving average price is $95.50 and its two-hundred day moving average price is $104.88. Global Payments Inc. has a fifty-two week low of $68.48 and a fifty-two week high of $127.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97.
Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. On average, sell-side analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.
Global Payments Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, March 14th. Global Payments's payout ratio is 16.18%.
About Global Payments
(
Free Report)
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.
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