Beacon Pointe Advisors LLC trimmed its stake in Global Payments Inc. (NYSE:GPN – Free Report) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,564 shares of the business services provider’s stock after selling 216 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Global Payments were worth $707,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Rock Point Advisors LLC grew its holdings in Global Payments by 0.8% in the fourth quarter. Rock Point Advisors LLC now owns 30,652 shares of the business services provider’s stock valued at $3,893,000 after purchasing an additional 245 shares during the period. Foundations Investment Advisors LLC purchased a new stake in Global Payments in the fourth quarter valued at approximately $212,000. Janney Montgomery Scott LLC grew its holdings in Global Payments by 67.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 25,716 shares of the business services provider’s stock valued at $3,266,000 after purchasing an additional 10,330 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Global Payments by 13.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,011 shares of the business services provider’s stock worth $1,144,000 after buying an additional 1,042 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Global Payments by 6.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 255,468 shares of the business services provider’s stock worth $32,064,000 after buying an additional 15,655 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Global Payments Price Performance
GPN stock opened at $106.31 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments Inc. has a one year low of $95.12 and a one year high of $141.77. The firm has a market capitalization of $27.14 billion, a PE ratio of 21.09, a P/E/G ratio of 0.68 and a beta of 0.97. The firm has a 50-day moving average of $121.97 and a two-hundred day moving average of $124.79.
Global Payments (NYSE:GPN – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. On average, analysts forecast that Global Payments Inc. will post 11.08 earnings per share for the current year.
Global Payments Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is 19.84%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on GPN. Evercore ISI decreased their price objective on shares of Global Payments from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Barclays decreased their price objective on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. TheStreet upgraded shares of Global Payments from a “c” rating to a “b-” rating in a research note on Thursday, February 1st. Citigroup decreased their price objective on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, BMO Capital Markets decreased their target price on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and a consensus price target of $149.11.
Read Our Latest Stock Analysis on Global Payments
Insider Transactions at Global Payments
In other news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total value of $367,422.00. Following the completion of the sale, the vice president now directly owns 25,209 shares of the company’s stock, valued at $2,806,770.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is owned by insiders.
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.
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