D. E. Shaw & Co. Inc. trimmed its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 97.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,650 shares of the business services provider's stock after selling 912,618 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Global Payments were worth $3,098,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. Optiver Holding B.V. purchased a new position in Global Payments during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Global Payments in the 4th quarter worth $37,000. Quintet Private Bank Europe S.A. purchased a new position in shares of Global Payments during the 4th quarter worth $38,000. Manchester Capital Management LLC boosted its position in shares of Global Payments by 177.5% during the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Global Payments by 374.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider's stock valued at $64,000 after acquiring an additional 449 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on GPN shares. Bank of America reduced their target price on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group downgraded shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target for the company. in a report on Friday, April 18th. Evercore ISI began coverage on Global Payments in a report on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price objective on the stock. Morgan Stanley cut their target price on Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Finally, Williams Trading set a $75.00 price target on Global Payments in a research note on Friday, April 18th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $112.43.
Get Our Latest Research Report on Global Payments
Global Payments Stock Down 0.0%
NYSE:GPN traded down $0.01 during midday trading on Thursday, reaching $75.71. The company had a trading volume of 2,272,168 shares, compared to its average volume of 2,472,798. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The firm has a market capitalization of $18.46 billion, a price-to-earnings 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 stock's fifty day simple moving average is $84.46 and its 200-day simple moving average is $101.25.
Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.09. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the business posted $2.59 EPS. The business's quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.
Global Payments Dividend Announcement
The company also recently declared 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 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
(
Free Report)
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.
Further Reading
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