Addenda Capital Inc. Sells 3,385 Shares of Global Payments Inc. (NYSE:GPN)

Addenda Capital Inc. trimmed its holdings in Global Payments Inc. (NYSE:GPN) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,396 shares of the business services provider’s stock after selling 3,385 shares during the period. Addenda Capital Inc.’s holdings in Global Payments were worth $8,741,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Fulton Bank N.A. lifted its position in shares of Global Payments by 1.7% in the fourth quarter. Fulton Bank N.A. now owns 5,409 shares of the business services provider’s stock valued at $687,000 after buying an additional 93 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Global Payments by 0.7% in the fourth quarter. Wedmont Private Capital now owns 13,740 shares of the business services provider’s stock valued at $1,828,000 after buying an additional 98 shares during the last quarter. West Paces Advisors Inc. lifted its position in shares of Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after buying an additional 109 shares during the last quarter. KB Financial Partners LLC lifted its holdings in Global Payments by 2.9% during the 3rd quarter. KB Financial Partners LLC now owns 4,069 shares of the business services provider’s stock worth $470,000 after purchasing an additional 113 shares during the last quarter. Finally, Procyon Advisors LLC lifted its holdings in Global Payments by 0.6% during the 4th quarter. Procyon Advisors LLC now owns 19,439 shares of the business services provider’s stock worth $2,469,000 after purchasing an additional 115 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on GPN shares. Keefe, Bruyette & Woods dropped their price target on Global Payments from $158.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. KeyCorp dropped their price target on Global Payments from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Evercore ISI dropped their price target on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday. Citigroup dropped their price target on Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Monness Crespi & Hardt dropped their price target on Global Payments from $175.00 to $165.00 and set a “buy” rating for the company in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.68.

Global Payments Trading Up 2.0 %

Shares of Global Payments stock traded up $1.88 on Friday, hitting $96.70. 2,923,146 shares of the company’s stock traded hands, compared to its average volume of 2,356,749. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a fifty day moving average of $105.12 and a two-hundred day moving average of $121.55. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 0.61 and a beta of 0.98.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, beating 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 company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.17 billion. As a group, sell-side analysts expect that Global Payments Inc. will post 11.09 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Global Payments’s payout ratio is 19.84%.

Insider Activity at Global Payments

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction that occurred 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 in the company, valued at $2,806,770.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is owned by corporate insiders.

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.