Global Payments Inc. (NYSE:GPN) Holdings Reduced by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC decreased its position in Global Payments Inc. (NYSE:GPN) by 2.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 104,742 shares of the business services provider’s stock after selling 2,415 shares during the period. HBK Sorce Advisory LLC’s holdings in Global Payments were worth $11,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPN. Beaird Harris Wealth Management LLC bought a new position in Global Payments in the 3rd quarter worth about $25,000. Whipplewood Advisors LLC bought a new position in Global Payments in the 4th quarter worth about $37,000. Quintet Private Bank Europe S.A. bought a new position in Global Payments in the 4th quarter worth about $38,000. LRI Investments LLC grew its position in Global Payments by 94.4% in the 3rd quarter. LRI Investments LLC now owns 517 shares of the business services provider’s stock worth $53,000 after purchasing an additional 251 shares during the last quarter. Finally, Manchester Capital Management LLC grew its position in 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 purchasing an additional 300 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GPN shares. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Citigroup decreased their price objective on shares of Global Payments from $138.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Stephens cut shares of Global Payments from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $125.00 to $120.00 in a report on Friday, January 10th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $122.00 price objective (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.33.

Insiders Place Their Bets

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the acquisition, the director now directly owns 42,738 shares in the company, valued at approximately $4,957,608. The trade was a 15.70 % increase in their position. The purchase 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 Stock Performance

Shares of Global Payments stock opened at $93.01 on Thursday. Global Payments Inc. has a 12 month low of $90.99 and a 12 month high of $140.38. 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 stock has a market cap of $23.03 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04. The business has a fifty day simple moving average of $106.81 and a 200-day simple moving average of $108.40.

Global Payments (NYSE:GPN) last announced its quarterly earnings data 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 return on equity of 12.21% and a net margin of 15.54%. On average, sell-side analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.08%. Global Payments’s dividend payout ratio 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.