Oppenheimer & Co. Inc. Reduces Holdings in Global Payments Inc. (NYSE:GPN)

Oppenheimer & Co. Inc. lowered its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 25.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,911 shares of the business services provider's stock after selling 13,634 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Global Payments were worth $4,006,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC purchased a new stake in Global Payments during the 4th quarter worth about $725,000. Sanctuary Advisors LLC boosted its stake in shares of Global Payments by 18.6% during the 4th quarter. Sanctuary Advisors LLC now owns 11,525 shares of the business services provider's stock worth $1,301,000 after purchasing an additional 1,807 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Global Payments by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,637,637 shares of the business services provider's stock worth $183,514,000 after buying an additional 9,984 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Global Payments by 101.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 50,653 shares of the business services provider's stock valued at $5,676,000 after buying an additional 25,461 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC raised its position in shares of Global Payments by 3.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 48,037 shares of the business services provider's stock valued at $5,383,000 after buying an additional 1,761 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

Global Payments Price Performance

Shares of NYSE GPN opened at $77.80 on Thursday. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The business has a 50 day moving average price of $76.75 and a two-hundred day moving average price of $94.51. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market cap of $18.97 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.09. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The firm's revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.59 EPS. 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 announced 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 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Friday, June 13th. Global Payments's dividend payout ratio is presently 16.13%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays lowered their target price on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Williams Trading set a $75.00 price objective on Global Payments in a research report on Friday, April 18th. Wolfe Research reiterated a "peer perform" rating on shares of Global Payments in a research note on Wednesday, April 23rd. Citigroup reiterated a "buy" rating on shares of Global Payments in a research report on Monday, April 21st. Finally, Cowen cut Global Payments from a "buy" rating to a "hold" rating in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $110.91.

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.

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