Cache Advisors LLC Takes Position in Global Payments Inc. (NYSE:GPN)

Cache Advisors LLC acquired a new stake in Global Payments Inc. (NYSE:GPN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,409 shares of the business services provider's stock, valued at approximately $606,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Private Trust Co. NA grew its position in shares of Global Payments by 11.2% in the fourth quarter. Private Trust Co. NA now owns 992 shares of the business services provider's stock valued at $111,000 after purchasing an additional 100 shares in the last quarter. Truvestments Capital LLC grew its position in shares of Global Payments by 2.9% in the fourth quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider's stock valued at $413,000 after purchasing an additional 103 shares in the last quarter. Greenleaf Trust grew its position in shares of Global Payments by 5.9% in the fourth quarter. Greenleaf Trust now owns 2,068 shares of the business services provider's stock valued at $232,000 after purchasing an additional 115 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Global Payments by 1.1% in the fourth 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 in the last quarter. Finally, Y.D. More Investments Ltd grew its position in shares of Global Payments by 1.8% in the fourth quarter. Y.D. More Investments Ltd now owns 6,949 shares of the business services provider's stock valued at $779,000 after purchasing an additional 120 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Stock Up 0.4%

NYSE:GPN traded up $0.27 during trading hours on Thursday, hitting $75.26. The company's stock had a trading volume of 553,597 shares, compared to its average volume of 2,472,925. The stock has a market capitalization of $18.35 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96. The stock has a fifty day moving average of $82.27 and a 200-day moving average of $100.03. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.73 by $0.09. The firm 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 in the prior year, the company posted $2.59 earnings per share. On average, equities analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, June 13th. Global Payments's payout ratio is 16.13%.

Analyst Ratings Changes

GPN has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Global Payments from $115.00 to $85.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Cowen cut Global Payments from a "buy" rating to a "hold" rating in a report on Monday, April 21st. TD Cowen cut Global Payments from a "buy" rating to a "hold" rating and set a $78.00 price objective on the stock. in a report on Monday, April 21st. Citigroup reiterated a "buy" rating on shares of Global Payments in a report on Monday, April 21st. Finally, Robert W. Baird decreased their price objective on Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. One equities research 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $112.43.

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.