Capital Bank & Trust Co lowered its holdings in shares of Global Payments Inc (NYSE:GPN) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,622 shares of the business services provider’s stock after selling 61,514 shares during the period. Capital Bank & Trust Co’s holdings in Global Payments were worth $84,456,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Virtus ETF Advisers LLC bought a new stake in shares of Global Payments during the fourth quarter valued at about $29,000. Evoke Wealth LLC acquired a new position in Global Payments during the 3rd quarter valued at about $30,000. Resources Management Corp CT ADV bought a new stake in Global Payments during the third quarter worth approximately $32,000. First Financial Corp IN raised its stake in shares of Global Payments by 38.5% in the 4th quarter. First Financial Corp IN now owns 234 shares of the business services provider’s stock worth $43,000 after buying an additional 65 shares in the last quarter. Finally, Simon Quick Advisors LLC bought a new stake in Global Payments in the fourth quarter worth about $43,000. 88.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Wells Fargo & Co raised their target price on shares of Global Payments from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wedbush upgraded Global Payments from a “neutral” rating to an “outperform” rating in a research report on Monday, March 16th. Cantor Fitzgerald raised their price objective on Global Payments from $196.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Robert W. Baird reduced their price objective on Global Payments from $222.00 to $202.00 and set an “outperform” rating for the company in a research note on Wednesday, March 11th. Finally, Credit Suisse Group started coverage on Global Payments in a report on Thursday, January 23rd. They issued an “outperform” rating and a $230.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the stock. Global Payments currently has an average rating of “Buy” and an average target price of $210.88.
Shares of NYSE GPN traded up $1.24 during mid-day trading on Thursday, reaching $147.94. The company had a trading volume of 50,723 shares, compared to its average volume of 3,729,263. The stock has a fifty day moving average of $181.16 and a two-hundred day moving average of $177.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $42.39 billion, a price-to-earnings ratio of 63.33, a PEG ratio of 1.05 and a beta of 1.00. Global Payments Inc has a 12-month low of $105.54 and a 12-month high of $209.62.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.11. Global Payments had a net margin of 8.77% and a return on equity of 7.25%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the business earned $1.33 EPS. The company’s revenue for the quarter was up 125.7% compared to the same quarter last year. Sell-side analysts forecast that Global Payments Inc will post 7.2 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.195 per share. This is a boost from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.78 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Thursday, March 12th. Global Payments’s payout ratio is currently 13.31%.
In other news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $149.00, for a total transaction of $89,400.00. Following the completion of the sale, the director now directly owns 25,388 shares in the company, valued at approximately $3,782,812. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ruth Ann Marshall sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $203.51, for a total value of $814,040.00. Following the completion of the sale, the director now directly owns 42,799 shares of the company’s stock, valued at approximately $8,710,024.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,753 shares of company stock worth $1,300,435. 0.88% of the stock is currently owned by corporate insiders.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
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