Bank of New York Mellon Corp Has $183.51 Million Holdings in Global Payments Inc. (NYSE:GPN)

Bank of New York Mellon Corp grew its position in Global Payments Inc. (NYSE:GPN) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,637,637 shares of the business services provider’s stock after purchasing an additional 9,984 shares during the quarter. Bank of New York Mellon Corp owned about 0.64% of Global Payments worth $183,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC acquired a new position in Global Payments in the 3rd quarter valued at $25,000. Capital Performance Advisors LLP bought a new stake in shares of Global Payments in the third quarter valued at about $33,000. Manchester Capital Management LLC grew 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 valued at $53,000 after acquiring an additional 300 shares in the last quarter. LRI Investments LLC increased its position in Global Payments by 94.4% during the third quarter. LRI Investments LLC now owns 517 shares of the business services provider’s stock worth $53,000 after acquiring an additional 251 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its position in Global Payments by 27.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock worth $56,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GPN. Royal Bank of Canada decreased their target price on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Keefe, Bruyette & Woods increased their price target on Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays dropped their price objective on Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Bank of America reduced their target price on Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Finally, Citigroup decreased their price target on Global Payments from $138.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and an average price target of $134.33.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $116.00 per share, with a total value of $672,800.00. Following the transaction, the director now directly owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Global Payments Trading Up 1.6 %

Shares of GPN stock opened at $103.19 on Friday. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $140.38. The stock’s fifty day simple moving average is $109.18 and its 200 day simple moving average is $108.91. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $25.55 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.86 and a beta of 1.01.

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

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. Global Payments’s dividend payout ratio (DPR) 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.