Earnest Partners LLC Lowers Position in Global Payments Inc. (NYSE:GPN)

Earnest Partners LLC decreased its position in Global Payments Inc. (NYSE:GPN - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 762,318 shares of the business services provider's stock after selling 24,891 shares during the period. Earnest Partners LLC owned approximately 0.30% of Global Payments worth $85,425,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC purchased a new stake in shares of Global Payments during the third quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new stake in Global Payments during the 4th quarter valued at $37,000. Quintet Private Bank Europe S.A. bought a new stake in shares of Global Payments in the 4th quarter worth $38,000. Manchester Capital Management LLC raised its stake 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 purchasing an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake 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 worth $64,000 after purchasing an additional 449 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GPN shares. Jefferies Financial Group cut shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price objective for the company. in a report on Friday, April 18th. Stephens downgraded Global Payments from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. Wolfe Research reiterated a "peer perform" rating on shares of Global Payments in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price target 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. Finally, Citigroup reiterated a "buy" rating on shares of Global Payments in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $112.86.

Global Payments Stock Performance

NYSE GPN traded up $2.33 during mid-day trading on Friday, reaching $78.91. 1,473,860 shares of the stock were exchanged, compared to its average volume of 2,401,907. The company has a market capitalization of $19.40 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. The business's 50 day moving average is $89.67 and its 200-day moving average is $103.26. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. On average, equities research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Global Payments's dividend payout ratio is currently 16.18%.

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.