Brant Point Investment Management LLC Has $7.67 Million Stock Holdings in Global Payments Inc. (NYSE:GPN)

Brant Point Investment Management LLC decreased its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,397 shares of the business services provider's stock after selling 12,500 shares during the quarter. Global Payments accounts for about 1.0% of Brant Point Investment Management LLC's investment portfolio, making the stock its 12th largest position. Brant Point Investment Management LLC's holdings in Global Payments were worth $7,665,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Virtu Financial LLC raised its holdings in shares of Global Payments by 79.4% during the third quarter. Virtu Financial LLC now owns 32,107 shares of the business services provider's stock valued at $3,288,000 after acquiring an additional 14,212 shares during the period. SkyView Investment Advisors LLC raised its stake in Global Payments by 5.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 5,315 shares of the business services provider's stock valued at $544,000 after purchasing an additional 280 shares during the period. Boyar Asset Management Inc. boosted its position in shares of Global Payments by 22.4% in the third quarter. Boyar Asset Management Inc. now owns 8,329 shares of the business services provider's stock worth $853,000 after buying an additional 1,525 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Global Payments by 4.4% during the third quarter. Sanctuary Advisors LLC now owns 9,718 shares of the business services provider's stock valued at $995,000 after buying an additional 411 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in Global Payments by 24.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 44,394 shares of the business services provider's stock valued at $4,547,000 after buying an additional 8,677 shares during the period. Institutional investors and hedge funds own 89.76% of the company's stock.

Global Payments Price Performance

GPN stock traded up $0.80 during trading on Wednesday, hitting $72.19. The company had a trading volume of 2,136,544 shares, compared to its average volume of 2,374,734. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $94.01 and a two-hundred day moving average price of $104.52. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $127.66. The company has a market cap of $17.75 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.86 and a beta of 0.97.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results 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 firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Equities research analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Global Payments's dividend payout ratio (DPR) is presently 16.18%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Williams Trading set a $75.00 target price on Global Payments in a research note on Friday, April 18th. KeyCorp dropped their price objective on shares of Global Payments from $145.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday. Robert W. Baird cut their target price on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating for the company in a research report on Monday. TD Cowen lowered Global Payments from a "buy" rating to a "hold" rating and set a $78.00 price objective for the company. in a report on Monday. Finally, Stephens cut 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. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $114.86.

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.