Wealthfront Advisers LLC Raises Stock Holdings in Global Payments Inc. (NYSE:GPN)

Wealthfront Advisers LLC lifted its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 153.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,615 shares of the business services provider's stock after purchasing an additional 11,273 shares during the quarter. Wealthfront Advisers LLC's holdings in Global Payments were worth $2,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GPN. Beaird Harris Wealth Management LLC purchased a new stake in Global Payments during the third quarter valued at $25,000. Whipplewood Advisors LLC purchased a new stake in Global Payments during the fourth quarter valued at $37,000. Quintet Private Bank Europe S.A. purchased a new stake in Global Payments during the fourth quarter valued at $38,000. Manchester Capital Management LLC increased its position in Global Payments by 177.5% during the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Finally, LRI Investments LLC increased its position in Global Payments by 94.4% during the third quarter. LRI Investments LLC now owns 517 shares of the business services provider's stock valued at $53,000 after acquiring an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Price Performance

Global Payments stock traded up $2.23 during midday trading on Wednesday, reaching $98.09. 2,743,097 shares of the stock traded hands, compared to its average volume of 2,075,638. Global Payments Inc. has a 12 month low of $90.99 and a 12 month 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 stock's fifty day moving average is $105.37 and its 200-day moving average is $107.95. The stock has a market cap of $24.12 billion, a P/E ratio of 15.87, a PEG ratio of 0.86 and a beta of 1.04.

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Global Payments (NYSE:GPN - Get Free Report) last issued 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). 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 for the quarter, compared to analysts' expectations of $2.31 billion. As a group, equities research analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 yield of 1.02%. Global Payments's dividend payout ratio (DPR) is presently 16.18%.

Wall Street Analyst Weigh In

A number of analysts recently commented on GPN shares. Bank of America reduced their price objective on Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Keefe, Bruyette & Woods boosted their price target on Global Payments from $130.00 to $140.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Stephens lowered Global Payments from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $125.00 to $120.00 in a report on Friday, January 10th. Morgan Stanley cut their price target on Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Finally, Citigroup cut their price target on Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $134.33.

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.