Voya Investment Management LLC Cuts Stake in Global Payments Inc. (NYSE:GPN)

Voya Investment Management LLC reduced its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 17.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,828 shares of the business services provider's stock after selling 15,658 shares during the quarter. Voya Investment Management LLC's holdings in Global Payments were worth $8,161,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Beaird Harris Wealth Management LLC bought a new position in shares of Global Payments in the 3rd quarter worth $25,000. Whipplewood Advisors LLC purchased a new stake in Global Payments in the fourth quarter worth approximately $37,000. Quintet Private Bank Europe S.A. bought a new position in Global Payments during the fourth quarter valued at approximately $38,000. Manchester Capital Management LLC lifted its holdings in shares of Global Payments by 177.5% in the 4th 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 last quarter. Finally, Brown Brothers Harriman & Co. raised its position 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 worth $64,000 after purchasing an additional 449 shares during the period. Institutional investors own 89.76% of the company's stock.

Analyst Ratings Changes

GPN has been the topic of several analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Wolfe Research restated a "peer perform" rating on shares of Global Payments in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods lowered shares of Global Payments from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $135.00 to $78.00 in a report on Thursday, April 17th. Jefferies Financial Group downgraded Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target on the stock. in a report on Friday, April 18th. Finally, Barclays decreased their target price on Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Global Payments has an average rating of "Hold" and a consensus price target of $112.86.

Global Payments Stock Up 2.9 %

GPN traded up $2.22 during trading on Friday, hitting $78.80. 2,735,158 shares of the company's stock traded hands, compared to its average volume of 2,400,220. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The company's 50 day simple moving average is $89.18 and its two-hundred day simple moving average is $103.10. 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 stock has a market capitalization of $19.38 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.86 and a beta of 0.96.

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

Global Payments Dividend Announcement

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