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

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

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Global Payments by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 24,995,107 shares of the business services provider's stock worth $2,800,952,000 after buying an additional 179,195 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Global Payments by 25.0% in the fourth quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider's stock worth $929,969,000 after buying an additional 1,659,984 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Global Payments by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 6,230,322 shares of the business services provider's stock worth $696,362,000 after buying an additional 301,877 shares in the last quarter. Norges Bank bought a new position in shares of Global Payments in the fourth quarter worth approximately $345,823,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Global Payments by 9.8% in the fourth quarter. Janus Henderson Group PLC now owns 2,906,444 shares of the business services provider's stock worth $325,698,000 after buying an additional 259,590 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GPN shares. Citigroup reiterated a "buy" rating on shares of Global Payments in a research note on Monday, April 21st. Jefferies Financial Group downgraded shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 target price on the stock. in a research note on Friday, April 18th. Barclays decreased their price objective on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Global Payments from $78.00 to $81.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, Bank of America dropped their target price on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $112.43.

Global Payments Stock Up 2.2%

Shares of NYSE:GPN traded up $1.62 during trading on Tuesday, reaching $75.71. The stock had a trading volume of 2,088,580 shares, compared to its average volume of 2,470,029. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The company has a market capitalization of $18.46 billion, a P/E ratio of 12.25, a PEG ratio of 0.86 and a beta of 0.96. 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 firm's 50-day simple moving average is $83.14 and its 200 day simple moving average is $100.38.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results 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. The company had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.20 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. Global Payments's revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the business earned $2.59 EPS. As a group, research analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, June 13th. Global Payments's dividend payout ratio (DPR) is presently 16.13%.

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.