Reinhart Partners LLC. lessened its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,088 shares of the business services provider's stock after selling 5,849 shares during the quarter. Reinhart Partners LLC.'s holdings in Global Payments were worth $8,038,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. AIA Group Ltd bought a new stake in shares of Global Payments in the fourth quarter valued at about $349,000. Oribel Capital Management LP boosted 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 acquiring an additional 433,700 shares during the period. Caprock Group LLC boosted its position 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 valued at $259,000 after acquiring an additional 206 shares during the period. Van ECK Associates Corp boosted its position in shares of Global Payments by 106.1% in the fourth quarter. Van ECK Associates Corp now owns 50,705 shares of the business services provider's stock valued at $5,682,000 after acquiring an additional 26,104 shares during the period. Finally, Focused Investors LLC bought a new stake in shares of Global Payments in the fourth quarter valued at about $99,969,000. Institutional investors own 89.76% of the company's stock.
Global Payments Trading Up 1.1%
Shares of Global Payments stock traded up $0.86 on Friday, hitting $76.88. The stock had a trading volume of 3,055,104 shares, compared to its average volume of 2,470,294. The stock has a 50 day moving average of $79.07 and a 200 day moving average of $98.11. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. The firm has a market capitalization of $18.75 billion, a P/E ratio of 12.44, a PEG ratio of 0.86 and a beta of 0.93.
Global Payments (NYSE:GPN - Get Free Report) last released 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 company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm posted $2.59 earnings per share. The firm's revenue was down .3% compared to the same quarter last year. Sell-side 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 will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, June 13th. Global Payments's dividend payout ratio is currently 16.13%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Keefe, Bruyette & Woods boosted their price target on Global Payments from $78.00 to $81.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Evercore ISI initiated coverage on Global Payments in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price target for the company. TD Cowen downgraded Global Payments from a "buy" rating to a "hold" rating and set a $78.00 price target for the company. in a research note on Monday, April 21st. Finally, 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 note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Global Payments currently has an average rating of "Hold" and a consensus target price of $110.91.
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About Global Payments
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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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