Nuveen Asset Management LLC Sells 32,761 Shares of Global Payments Inc. (NYSE:GPN)

Nuveen Asset Management LLC cut its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,198,039 shares of the business services provider's stock after selling 32,761 shares during the period. Nuveen Asset Management LLC owned approximately 0.47% of Global Payments worth $134,252,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GPN. OMERS ADMINISTRATION Corp grew its stake in Global Payments by 19.5% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 10,807 shares of the business services provider's stock worth $1,211,000 after buying an additional 1,765 shares in the last quarter. Maytus Capital Management LLC grew its stake in Global Payments by 61.0% during the fourth quarter. Maytus Capital Management LLC now owns 67,632 shares of the business services provider's stock worth $7,579,000 after buying an additional 25,632 shares in the last quarter. Meridiem Capital Partners LP acquired a new stake in Global Payments during the fourth quarter worth about $31,229,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Global Payments by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,027 shares of the business services provider's stock worth $13,786,000 after buying an additional 4,685 shares in the last quarter. Finally, LRT Capital Management LLC grew its stake in Global Payments by 120.8% during the fourth quarter. LRT Capital Management LLC now owns 32,563 shares of the business services provider's stock worth $3,649,000 after buying an additional 17,815 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GPN shares. StockNews.com upgraded shares of Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Citigroup reiterated a "buy" rating on shares of Global Payments in a report on Monday, April 21st. Morgan Stanley dropped their price objective on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Cowen lowered shares of Global Payments from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Finally, Williams Trading set a $75.00 price objective on shares of Global Payments in a report on Friday, April 18th. One 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. According to MarketBeat, Global Payments has an average rating of "Hold" and an average price target of $112.43.

Global Payments Stock Performance

Global Payments stock traded down $1.16 during midday trading on Tuesday, reaching $79.69. The stock had a trading volume of 2,300,362 shares, compared to its average volume of 2,461,804. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00. The firm's 50-day moving average price is $85.08 and its 200 day moving average price is $101.58. The firm has a market capitalization of $19.43 billion, a PE ratio of 12.89, 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 (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the previous year, the business posted $2.59 EPS. The firm's quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, June 13th. Global Payments's dividend 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.