Bamco Inc. NY Cuts Stock Position in Global Payments Inc. (NYSE:GPN)

Bamco Inc. NY lessened its holdings in shares of Global Payments Inc. (NYSE:GPN) by 87.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,000 shares of the business services provider’s stock after selling 7,000 shares during the quarter. Bamco Inc. NY’s holdings in Global Payments were worth $112,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Optiver Holding B.V. acquired a new stake in Global Payments during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Global Payments during the fourth quarter worth $37,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Global Payments in the fourth quarter valued at $38,000. Manchester Capital Management LLC boosted its holdings in 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 purchasing an additional 300 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in Global Payments by 374.2% during 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 in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

GPN has been the topic of a number of analyst reports. Williams Trading set a $75.00 price target on Global Payments in a research report on Friday, April 18th. Citigroup reaffirmed a “buy” rating on shares of Global Payments in a report on Monday, April 21st. Barclays lowered their price target on shares of Global Payments from $125.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Robert W. Baird decreased their price objective on shares of Global Payments from $145.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods lowered Global Payments from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $135.00 to $78.00 in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $112.86.

Global Payments Stock Up 0.4 %

GPN opened at $79.20 on Tuesday. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $120.00. The business has a 50 day moving average price of $88.73 and a two-hundred day moving average price of $102.95. 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 company has a market cap of $19.47 billion, a PE ratio of 12.81, a P/E/G ratio of 0.86 and a beta of 0.96.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS 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 company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. As a group, research analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, March 14th. Global Payments’s payout ratio is 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.