Cwm LLC Sells 4,074 Shares of Global Payments Inc. (NYSE:GPN)

CWM LLC decreased its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,260 shares of the business services provider's stock after selling 4,074 shares during the quarter. CWM LLC's holdings in Global Payments were worth $4,236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ballentine Partners LLC bought a new position in Global Payments in the first quarter valued at approximately $224,000. Cromwell Holdings LLC bought a new position in Global Payments in the first quarter valued at approximately $72,000. Xponance Inc. lifted its stake in Global Payments by 0.6% in the first quarter. Xponance Inc. now owns 36,634 shares of the business services provider's stock valued at $3,587,000 after buying an additional 235 shares in the last quarter. Alps Advisors Inc. lifted its stake in Global Payments by 11.8% in the first quarter. Alps Advisors Inc. now owns 9,039 shares of the business services provider's stock valued at $885,000 after buying an additional 951 shares in the last quarter. Finally, Arcadia Investment Management Corp MI lifted its stake in Global Payments by 1.9% in the first quarter. Arcadia Investment Management Corp MI now owns 14,760 shares of the business services provider's stock valued at $1,445,000 after buying an additional 280 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Global Payments Stock Performance

Shares of GPN stock traded down $1.11 on Friday, hitting $81.93. The company's stock had a trading volume of 2,303,610 shares, compared to its average volume of 2,505,501. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 0.94. The stock's 50 day moving average is $78.65 and its 200-day moving average is $90.87. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The company has a market capitalization of $19.98 billion, a PE ratio of 13.21, a PEG ratio of 0.80 and a beta of 0.94.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly 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. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company posted $2.59 earnings per share. Global Payments's revenue was down .3% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.22%. Global Payments's dividend payout ratio is 16.13%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GPN shares. Keefe, Bruyette & Woods lifted their price target on shares of Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. KeyCorp boosted their price objective on shares of Global Payments from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Truist Financial boosted their price objective on shares of Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Global Payments from $115.00 to $85.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Barclays cut their price objective on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Global Payments has a consensus rating of "Hold" and a consensus price target of $111.55.

Global Payments 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.