Jamison Private Wealth Management Inc. Cuts Stock Holdings in Global Payments Inc. (NYSE:GPN)

Jamison Private Wealth Management Inc. decreased its position in Global Payments Inc. (NYSE:GPN) by 59.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,189 shares of the business services provider’s stock after selling 3,182 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Global Payments were worth $214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GPN. Optiver Holding B.V. bought a new stake in Global Payments in the 4th quarter worth about $28,000. NBC Securities Inc. purchased a new position in shares of Global Payments in the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC bought a new position in shares of Global Payments in the fourth quarter valued at approximately $37,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Global Payments during the fourth quarter valued at approximately $38,000. Finally, True Wealth Design LLC bought a new stake in Global Payments during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

Global Payments stock opened at $76.69 on Friday. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $18.70 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.73 and a beta of 0.93. The firm’s 50 day simple moving average is $77.18 and its 200 day simple moving average is $95.17.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.09. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.59 earnings per share. As a group, analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. Global Payments’s dividend payout ratio (DPR) is presently 16.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GPN shares. Wells Fargo & Company reduced their price objective on Global Payments from $105.00 to $77.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Jefferies Financial Group lowered shares of Global Payments from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Friday, April 18th. Barclays decreased their price objective 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. Truist Financial began coverage on shares of Global Payments in a research report on Monday, June 2nd. They set a “hold” rating and a $79.00 target price for the company. Finally, KeyCorp lifted their price target on shares of Global Payments from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $110.91.

About Global Payments

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.