Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,320 shares of the business services provider's stock after selling 8,479 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Global Payments were worth $11,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC purchased a new stake in shares of Global Payments in the third quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Global Payments in the fourth quarter valued at approximately $37,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Global Payments in the fourth quarter valued at approximately $38,000. LRI Investments LLC increased its holdings in shares of Global Payments by 94.4% in the third quarter. LRI Investments LLC now owns 517 shares of the business services provider's stock valued at $53,000 after purchasing an additional 251 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of Global Payments by 177.5% in the fourth 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. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Global Payments Stock Performance
GPN traded up $1.97 during trading on Friday, reaching $94.15. The company's stock had a trading volume of 3,081,594 shares, compared to its average volume of 2,072,159. The company's fifty day moving average price is $106.05 and its 200-day moving average price is $108.16. The company has a market capitalization of $23.31 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04. 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 Inc. has a 52-week low of $90.99 and a 52-week high of $136.36.
Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.14). The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. On average, equities analysts forecast that Global Payments Inc. will post 11.89 earnings per share 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Global Payments's dividend payout ratio is currently 16.18%.
Analysts Set New Price Targets
Several brokerages recently weighed in on GPN. Bank of America lowered 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. Stephens lowered Global Payments from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $125.00 to $120.00 in a research report on Friday, January 10th. Keefe, Bruyette & Woods increased their price objective on Global Payments from $130.00 to $140.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Citigroup lowered their price objective on Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $122.00 price objective (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of "Moderate Buy" and an average target price of $134.33.
View Our Latest Stock Report on Global Payments
Global Payments Company Profile
(
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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