BIP Alliance LLC Sells 3,571 Shares of Global Payments Inc. (NYSE:GPN)

BIP Alliance LLC trimmed its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 12.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,928 shares of the business services provider's stock after selling 3,571 shares during the period. Global Payments accounts for approximately 1.1% of BIP Alliance LLC's holdings, making the stock its 13th largest position. BIP Alliance LLC's holdings in Global Payments were worth $2,539,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Optiver Holding B.V. bought a new stake in shares of Global Payments during the 4th quarter worth $28,000. NBC Securities Inc. acquired a new position in Global Payments during the 1st quarter valued at $30,000. True Wealth Design LLC acquired a new position in Global Payments during the 4th quarter valued at $40,000. Larson Financial Group LLC raised its stake in Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after purchasing an additional 317 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Global Payments by 4,866.7% during the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock valued at $44,000 after purchasing an additional 438 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup reiterated a "buy" rating on shares of Global Payments in a research note on Monday, April 21st. Royal Bank Of Canada cut shares of Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 target price for the company. in a research note on Friday, April 25th. Robert W. Baird dropped their price objective on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company reduced their price objective on shares of Global Payments from $105.00 to $77.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Global Payments in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $111.36.

Global Payments Stock Performance

GPN stock traded up $5.08 during midday trading on Wednesday, reaching $82.69. 3,996,647 shares of the company were exchanged, compared to its average volume of 2,505,491. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day moving average price of $78.51 and a two-hundred day moving average price of $91.12. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The firm has a market capitalization of $20.17 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 0.75 and a beta of 0.94.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.09. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The firm had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the previous year, the business posted $2.59 earnings per share. The company's revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.25 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Global Payments's payout ratio is presently 16.13%.

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.