Tidal Investments LLC Sells 6,671 Shares of Global Payments Inc. (NYSE:GPN)

Tidal Investments LLC cut its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 24.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,275 shares of the business services provider's stock after selling 6,671 shares during the period. Tidal Investments LLC's holdings in Global Payments were worth $2,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. AIA Group Ltd bought a new stake in shares of Global Payments in the 4th quarter valued at $349,000. Oribel Capital Management LP lifted its holdings in 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 buying an additional 433,700 shares during the period. Caprock Group LLC lifted its holdings in 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 buying an additional 206 shares during the period. Van ECK Associates Corp boosted its position in Global Payments by 106.1% during 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 last quarter. Finally, Focused Investors LLC acquired a new stake in Global Payments during the 4th quarter worth about $99,969,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Global Payments Stock Down 0.0%

GPN stock opened at $75.71 on Friday. The firm has a market capitalization of $18.46 billion, a PE ratio of 12.25, a P/E/G ratio of 0.86 and a beta of 0.96. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The stock's 50 day moving average is $84.06 and its 200-day moving average is $101.04.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results 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 business had revenue of $2.20 billion during 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%. During the same period in the prior year, the firm posted $2.59 EPS. Global Payments's quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts expect that Global Payments Inc. will post 11.89 EPS 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. Investors 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%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Wolfe Research reissued a "peer perform" rating on shares of Global Payments in a research note on Wednesday, April 23rd. KeyCorp raised their price objective on shares of Global Payments from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Bank of America lowered their price objective on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Finally, Wells Fargo & Company dropped their target price on shares of Global Payments from $105.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $112.43.

About Global Payments

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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