Oppenheimer & Co. Inc. Sells 13,634 Shares of Global Payments Inc. (NYSE:GPN)

Oppenheimer & Co. Inc. decreased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,911 shares of the business services provider's stock after selling 13,634 shares during the period. Oppenheimer & Co. Inc.'s holdings in Global Payments were worth $4,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GPN. Norges Bank bought a new stake in shares of Global Payments during the 4th quarter valued at about $345,823,000. Pzena Investment Management LLC boosted its position in shares of Global Payments by 25.0% during the 4th quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider's stock valued at $929,969,000 after purchasing an additional 1,659,984 shares in the last quarter. SG Americas Securities LLC raised its stake in Global Payments by 75,379.7% during the 1st quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider's stock worth $148,558,000 after buying an additional 1,515,131 shares during the period. Contour Asset Management LLC acquired a new position in Global Payments during the 4th quarter worth approximately $147,695,000. Finally, Focused Investors LLC acquired a new position in Global Payments during the 4th quarter worth approximately $99,969,000. Institutional investors own 89.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GPN shares. Citigroup reaffirmed a "buy" rating on shares of Global Payments in a research note on Monday, April 21st. Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Wolfe Research reaffirmed a "peer perform" rating on shares of Global Payments in a research note on Wednesday, April 23rd. Evercore ISI started coverage on Global Payments in a research note on Wednesday, April 9th. They set an "in-line" rating and a $85.00 price target on the stock. Finally, Jefferies Financial Group downgraded Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target on the stock. in a research note on Friday, April 18th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Global Payments presently has a consensus rating of "Hold" and an average price target of $110.91.

Global Payments Stock Performance

Shares of GPN stock traded up $0.54 during trading on Friday, hitting $78.78. The company's stock had a trading volume of 2,872,798 shares, compared to its average volume of 2,506,237. The company has a market cap of $19.21 billion, a PE ratio of 12.71, a P/E/G ratio of 0.75 and a beta of 0.93. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average of $77.11 and a 200-day moving average of $93.67. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $120.00.

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 for the quarter, beating the consensus estimate of $2.73 by $0.09. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the company earned $2.59 earnings per share. Global Payments's revenue was down .3% compared to the same quarter last year. As a group, research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.27%. The ex-dividend date was Friday, June 13th. Global Payments's dividend payout ratio (DPR) is 16.13%.

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.