GCM Grosvenor Holdings LLC Has $16.72 Million Stake in Global Payments Inc. (NYSE:GPN)

GCM Grosvenor Holdings LLC trimmed its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,164 shares of the business services provider's stock after selling 8,897 shares during the quarter. Global Payments accounts for 2.4% of GCM Grosvenor Holdings LLC's portfolio, making the stock its 9th largest holding. GCM Grosvenor Holdings LLC owned approximately 0.06% of Global Payments worth $16,715,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Optiver Holding B.V. bought a new stake in shares of Global Payments during the 4th quarter valued at $28,000. Whipplewood Advisors LLC acquired a new position in shares of Global Payments during the 4th quarter worth about $37,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Global Payments during the 4th quarter worth about $38,000. Manchester Capital Management LLC boosted its stake in shares of Global Payments by 177.5% during the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock worth $53,000 after buying an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Global Payments by 374.2% in the 4th 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 during the last quarter. Institutional investors own 89.76% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GPN. Robert W. Baird cut their price objective on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company decreased their price objective on shares of Global Payments from $105.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Global Payments from $78.00 to $81.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Barclays decreased their target price on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Citigroup reiterated a "buy" rating on shares of Global Payments in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Global Payments currently has a consensus rating of "Hold" and an average price target of $112.09.

Global Payments Stock Performance

Shares of GPN stock traded up $2.60 during trading hours on Monday, reaching $83.10. The stock had a trading volume of 3,225,247 shares, compared to its average volume of 2,429,298. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. The firm has a 50-day simple moving average of $86.87 and a 200-day simple moving average of $102.39. The firm has a market capitalization of $20.43 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the company posted $2.59 EPS. The firm's revenue was down .3% on a year-over-year basis. As a group, equities analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, June 13th. Global Payments's dividend payout ratio is currently 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.