Global Payments Inc. (NYSE:GPN) Stock Holdings Lowered by Highlander Capital Management LLC

Highlander Capital Management LLC trimmed its stake in Global Payments Inc. (NYSE:GPNGet Rating) by 26.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,300 shares of the business services provider’s stock after selling 475 shares during the quarter. Highlander Capital Management LLC’s holdings in Global Payments were worth $178,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GPN. Victory Capital Management Inc. increased its stake in shares of Global Payments by 2,266.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,895,022 shares of the business services provider’s stock worth $391,349,000 after acquiring an additional 2,772,706 shares during the last quarter. Norges Bank acquired a new position in Global Payments during the fourth quarter worth $352,599,000. Boston Partners raised its holdings in Global Payments by 68.2% during the fourth quarter. Boston Partners now owns 4,705,549 shares of the business services provider’s stock valued at $636,935,000 after buying an additional 1,908,708 shares in the last quarter. Rivulet Capital LLC acquired a new stake in shares of Global Payments in the fourth quarter worth about $114,903,000. Finally, Pendal Group Ltd boosted its stake in shares of Global Payments by 1,318.9% during the 1st quarter. Pendal Group Ltd now owns 704,788 shares of the business services provider’s stock worth $96,443,000 after acquiring an additional 655,117 shares in the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Performance

Shares of GPN stock opened at $128.00 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 0.87. Global Payments Inc. has a 52 week low of $105.52 and a 52 week high of $179.27. The company’s 50 day moving average price is $118.40 and its two-hundred day moving average price is $129.16. The company has a market capitalization of $35.48 billion, a P/E ratio of 711.15, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04.

Global Payments (NYSE:GPNGet Rating) last announced its earnings results on Monday, August 1st. The business services provider reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.02. Global Payments had a return on equity of 9.24% and a net margin of 0.87%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. Global Payments’s quarterly revenue was up 6.7% on a year-over-year basis. On average, analysts expect that Global Payments Inc. will post 9 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. Global Payments’s dividend payout ratio is presently 555.59%.

Global Payments announced that its board has authorized a stock buyback plan on Monday, August 1st that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 4.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GPN shares. Robert W. Baird boosted their target price on Global Payments from $144.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday. BMO Capital Markets lifted their target price on shares of Global Payments from $217.00 to $232.00 in a report on Wednesday. Royal Bank of Canada lowered their target price on Global Payments from $197.00 to $194.00 and set an “outperform” rating on the stock in a report on Tuesday. Citigroup lowered their target price on Global Payments from $195.00 to $180.00 in a report on Monday, April 25th. Finally, Mizuho reduced their price target on shares of Global Payments from $148.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.03.

Insiders Place Their Bets

In other news, EVP David Lawrence Green sold 16,252 shares of Global Payments stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the completion of the sale, the executive vice president now owns 97,818 shares in the company, valued at approximately $12,726,121.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.19% of the company’s stock.

Global Payments Profile

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Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.

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

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