Global Payments Inc. (NYSE:GPN) Stock Holdings Lifted by Cibc World Markets Corp

Cibc World Markets Corp raised its position in Global Payments Inc. (NYSE:GPNFree Report) by 29.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,672 shares of the business services provider’s stock after purchasing an additional 18,615 shares during the quarter. Cibc World Markets Corp’s holdings in Global Payments were worth $10,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its stake in Global Payments by 40.7% in the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock valued at $1,078,525,000 after purchasing an additional 2,703,434 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Global Payments by 2.7% in the fourth quarter. Franklin Resources Inc. now owns 5,087,801 shares of the business services provider’s stock worth $646,151,000 after buying an additional 132,635 shares during the last quarter. Morgan Stanley lifted its position in shares of Global Payments by 2.7% in the third quarter. Morgan Stanley now owns 3,402,869 shares of the business services provider’s stock worth $392,657,000 after buying an additional 89,057 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Global Payments by 338.3% in the third quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock worth $379,416,000 after buying an additional 2,537,941 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Global Payments by 2.6% in the fourth quarter. Nordea Investment Management AB now owns 2,980,048 shares of the business services provider’s stock worth $379,777,000 after buying an additional 76,606 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Trading Down 0.8 %

NYSE:GPN traded down $0.75 during trading hours on Thursday, hitting $97.76. 2,118,702 shares of the stock were exchanged, compared to its average volume of 2,316,289. The company’s 50 day moving average is $114.97 and its two-hundred day moving average is $123.93. Global Payments Inc. has a twelve month low of $95.12 and a twelve month high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $24.95 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 0.62 and a beta of 0.98.

Global Payments (NYSE:GPNGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.07. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. On average, sell-side analysts anticipate that Global Payments Inc. will post 11.08 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 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio is 19.84%.

Analysts Set New Price Targets

A number of brokerages have weighed in on GPN. Susquehanna reduced their price target on Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a research report on Thursday, May 2nd. Monness Crespi & Hardt cut their price objective on Global Payments from $175.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Evercore ISI cut their price objective on Global Payments from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Citigroup cut their price objective on Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Barclays cut their price objective on Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.11.

Get Our Latest Analysis on Global Payments

Insiders Place Their Bets

In other news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the transaction, the vice president now owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.98% of the company’s stock.

Global Payments Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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