Bridgefront Capital LLC Sells 3,541 Shares of Global Payments Inc. (NYSE:GPN)

Bridgefront Capital LLC decreased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 51.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,280 shares of the business services provider's stock after selling 3,541 shares during the period. Bridgefront Capital LLC's holdings in Global Payments were worth $368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sage Capital Advisors llc boosted its position in Global Payments by 0.3% during the fourth quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider's stock worth $3,164,000 after purchasing an additional 96 shares during the period. Private Trust Co. NA lifted its stake in Global Payments by 11.2% during the fourth quarter. Private Trust Co. NA now owns 992 shares of the business services provider's stock worth $111,000 after purchasing an additional 100 shares during the last quarter. Truvestments Capital LLC raised its position in Global Payments by 2.9% in the 4th quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider's stock worth $413,000 after purchasing an additional 103 shares during the period. Greenleaf Trust raised its holdings in Global Payments by 5.9% during the 4th quarter. Greenleaf Trust now owns 2,068 shares of the business services provider's stock valued at $232,000 after buying an additional 115 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Global Payments by 1.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider's stock valued at $1,228,000 after purchasing an additional 117 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Up 3.2%

Shares of NYSE GPN traded up $2.56 during mid-day trading on Monday, reaching $83.06. 850,098 shares of the company were exchanged, compared to its average volume of 2,420,203. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. 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 has a market cap of $20.42 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.86 and a beta of 0.96. The firm has a 50-day moving average of $86.87 and a 200 day moving average of $102.39.

Global Payments (NYSE:GPN - Get Free Report) last posted 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 company had revenue of $2.20 billion for 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 revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 EPS. On average, research analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. Global Payments's payout ratio is currently 16.13%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Global Payments from $78.00 to $81.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Citigroup reissued a "buy" rating on shares of Global Payments in a report on Monday, April 21st. Bank of America dropped their target price on Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a report on Friday, February 14th. Wolfe Research reiterated a "peer perform" rating on shares of Global Payments in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada downgraded Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price objective on the stock. in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $112.09.

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.