Harbor Investment Advisory LLC Sells 97 Shares of Global Payments Inc. (NYSE:GPN)

Harbor Investment Advisory LLC trimmed its stake in Global Payments Inc. (NYSE:GPN) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,799 shares of the business services provider’s stock after selling 97 shares during the period. Harbor Investment Advisory LLC’s holdings in Global Payments were worth $314,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tidal Investments LLC lifted its holdings in shares of Global Payments by 0.3% during the third quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock valued at $2,760,000 after purchasing an additional 86 shares in the last quarter. Sage Capital Advisors llc lifted its stake in Global Payments by 0.3% during the 4th quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider’s stock valued at $3,164,000 after acquiring an additional 96 shares during the period. SYM FINANCIAL Corp boosted its holdings in shares of Global Payments by 4.1% during the 3rd quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock valued at $250,000 after acquiring an additional 97 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its stake in shares of Global Payments by 1.2% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after acquiring an additional 98 shares during the period. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Global Payments by 27.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Trading Up 0.2 %

GPN stock opened at $108.60 on Wednesday. The firm has a fifty day moving average price of $113.87 and a 200 day moving average price of $107.30. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The firm has a market cap of $27.64 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 0.78 and a beta of 1.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Friday, December 13th. Global Payments’s dividend payout ratio is 18.83%.

Insider Activity at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of Global Payments stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the purchase, the director now owns 42,738 shares in the company, valued at $4,957,608. The trade was a 15.70 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GPN. Monness Crespi & Hardt cut their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Stephens cut Global Payments from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $125.00 to $120.00 in a research report on Friday, January 10th. Royal Bank of Canada dropped their target price on Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Seaport Res Ptn cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $122.00 target price (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $135.71.

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.