USS Investment Management Ltd Trims Position in Global Payments Inc. (NYSE:GPN)

USS Investment Management Ltd reduced its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 10.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,962 shares of the business services provider's stock after selling 7,003 shares during the quarter. USS Investment Management Ltd's holdings in Global Payments were worth $6,385,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GPN. Worldquant Millennium Advisors LLC bought a new position in Global Payments in the fourth quarter valued at approximately $18,342,000. Woodline Partners LP bought a new stake in shares of Global Payments in the fourth quarter worth $7,723,000. Vident Advisory LLC grew its stake in shares of Global Payments by 1.7% in the fourth quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider's stock worth $1,163,000 after purchasing an additional 172 shares during the last quarter. Sone Capital Management LLC bought a new stake in shares of Global Payments in the fourth quarter worth $3,006,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Global Payments in the fourth quarter worth $863,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GPN. Williams Trading set a $75.00 price objective on shares of Global Payments in a research note on Friday, April 18th. 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 on the stock. in a report on Friday, April 25th. Bank of America dropped their target price on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a report on Friday, February 14th. KeyCorp boosted their target price on shares of Global Payments from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. 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 report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $112.43.

Global Payments Stock Down 0.1%

Global Payments stock traded down $0.08 during trading hours on Wednesday, hitting $75.67. The stock had a trading volume of 504,345 shares, compared to its average volume of 2,472,275. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $18.45 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The stock's 50-day moving average price is $82.71 and its 200-day moving average price is $100.21.

Global Payments (NYSE:GPN - Get Free Report) last announced its 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. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the prior year, the company earned $2.59 earnings per share. The firm's revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.25 dividend. 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 is presently 16.13%.

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.