Focus Partners Wealth Reduces Stock Position in Global Payments Inc. (NYSE:GPN)

Focus Partners Wealth lessened its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 73.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,740 shares of the business services provider's stock after selling 42,981 shares during the quarter. Focus Partners Wealth's holdings in Global Payments were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Optiver Holding B.V. bought a new stake in shares of Global Payments in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new stake in Global Payments during the 4th quarter valued at $37,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Global Payments during the fourth quarter worth $38,000. Manchester Capital Management LLC boosted its holdings in shares of Global Payments by 177.5% in the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock worth $53,000 after acquiring an additional 300 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in shares of Global Payments by 374.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider's stock valued at $64,000 after purchasing an additional 449 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company cut their target price on Global Payments from $105.00 to $77.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Cowen cut shares of Global Payments from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. KeyCorp boosted their price target on shares of Global Payments from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Royal Bank of Canada lowered Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price objective for the company. in a research note on Friday, April 25th. Finally, 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 target price on the stock. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $112.43.

Global Payments Trading Down 1.4%

Shares of GPN stock traded down $1.16 during trading hours on Tuesday, reaching $79.69. The company's stock had a trading volume of 2,300,362 shares, compared to its average volume of 2,461,804. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm's fifty day simple moving average is $85.08 and its 200 day simple moving average is $101.58. The stock has a market capitalization of $19.43 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.86 and a beta of 0.96. Global Payments Inc. has a one year low of $65.93 and a one year 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 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 business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $2.59 earnings per share. The company's revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Global Payments's payout ratio is currently 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.