Wealth Enhancement Advisory Services LLC lifted its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 121.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,816 shares of the business services provider's stock after acquiring an additional 22,920 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Global Payments were worth $4,686,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in GPN. AIA Group Ltd acquired a new stake in Global Payments in the 4th quarter worth approximately $349,000. Oribel Capital Management LP raised its position in shares of Global Payments by 495.1% in the fourth quarter. Oribel Capital Management LP now owns 521,300 shares of the business services provider's stock valued at $58,417,000 after purchasing an additional 433,700 shares during the period. Caprock Group LLC lifted its stake in shares of Global Payments by 9.8% in the fourth quarter. Caprock Group LLC now owns 2,313 shares of the business services provider's stock worth $259,000 after buying an additional 206 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Global Payments by 106.1% during the 4th quarter. Van ECK Associates Corp now owns 50,705 shares of the business services provider's stock worth $5,682,000 after buying an additional 26,104 shares during the period. Finally, Focused Investors LLC acquired a new position in Global Payments in the 4th quarter valued at $99,969,000. Institutional investors own 89.76% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Royal Bank of Canada lowered 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 report on Friday, April 25th. Williams Trading set a $75.00 price objective on Global Payments in a research note on Friday, April 18th. Bank of America cut their price objective on Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Jefferies Financial Group downgraded Global Payments from a "buy" rating to a "hold" rating and set a $75.00 target price for the company. in a research note on Friday, April 18th. Finally, Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $110.91.
View Our Latest Stock Report on Global Payments
Global Payments Price Performance
NYSE GPN traded up $0.92 during trading on Wednesday, reaching $76.70. 2,271,924 shares of the company traded hands, compared to its average volume of 2,471,190. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a market cap of $18.71 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 0.86 and a beta of 0.96. The stock's 50 day moving average price is $80.35 and its two-hundred day moving average price is $98.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97.
Global Payments (NYSE:GPN - Get Free Report) last announced 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. The business 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 quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.59 EPS. As a group, analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.
Global Payments Announces Dividend
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 given a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. Global Payments's dividend payout ratio (DPR) is presently 16.13%.
Global Payments Company Profile
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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.
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