Sherbrooke Park Advisers LLC Makes New Investment in Global Payments Inc. (NYSE:GPN)

Sherbrooke Park Advisers LLC purchased a new position in Global Payments Inc. (NYSE:GPN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,926 shares of the business services provider's stock, valued at approximately $776,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPN. Optiver Holding B.V. bought a new position in Global Payments in the 4th quarter worth $28,000. Whipplewood Advisors LLC bought a new position in Global Payments in the 4th quarter worth $37,000. Quintet Private Bank Europe S.A. bought a new position in Global Payments in the 4th quarter worth $38,000. Manchester Capital Management LLC raised its holdings in Global Payments by 177.5% in the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock worth $53,000 after purchasing an additional 300 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in Global Payments by 374.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider's stock worth $64,000 after purchasing an additional 449 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Trading Down 1.9%

Shares of GPN traded down $1.60 during mid-day trading on Monday, reaching $80.77. 2,686,824 shares of the company's stock traded hands, compared to its average volume of 2,462,448. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. The stock has a market cap of $19.70 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.86 and a beta of 0.96. The stock's 50-day moving average is $85.32 and its two-hundred day moving average is $101.74. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.09. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Global Payments's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.59 earnings per share. Research analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. Global Payments's payout ratio is 16.13%.

Wall Street Analyst Weigh In

GPN has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price target on Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Citigroup reissued a "buy" rating on shares of Global Payments in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price target on Global Payments from $115.00 to $85.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. StockNews.com raised Global Payments from a "hold" rating to a "buy" rating in a report on Thursday. Finally, Williams Trading set a $75.00 price target on Global Payments in a report on Friday, April 18th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Global Payments presently has an average rating of "Hold" and a consensus price target of $112.43.

About Global Payments

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.