Advisory Services Network LLC Grows Position in Global Payments Inc. (NYSE:GPN)

Advisory Services Network LLC increased its position in Global Payments Inc. (NYSE:GPNFree Report) by 73.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,924 shares of the business services provider’s stock after purchasing an additional 2,517 shares during the quarter. Advisory Services Network LLC’s holdings in Global Payments were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Global Payments in the 4th quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Global Payments in the 4th quarter valued at approximately $41,000. Parkside Financial Bank & Trust increased its position in Global Payments by 77.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after buying an additional 178 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Global Payments by 26.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock valued at $48,000 after buying an additional 7,369 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in Global Payments during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity

In other news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares of the company’s stock, valued at $2,806,770.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.98% of the company’s stock.

Global Payments Price Performance

Shares of Global Payments stock opened at $101.85 on Friday. The stock’s 50-day simple moving average is $117.75 and its 200-day simple moving average is $124.32. Global Payments Inc. has a 52 week low of $95.12 and a 52 week high of $141.77. The company has a market capitalization of $26.00 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.64 and a beta of 0.97. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPNGet Free Report) last announced its quarterly earnings data 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 business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. As a group, analysts expect that Global Payments Inc. will post 11.08 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. Global Payments’s payout ratio is 19.84%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GPN. Keefe, Bruyette & Woods reduced their price objective on Global Payments from $158.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Mizuho reduced their price objective on Global Payments from $129.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, May 15th. Citigroup reduced their price objective on Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. B. Riley lifted their target price on Global Payments from $180.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, Monness Crespi & Hardt reduced their target price 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, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.11.

Check Out Our Latest Analysis on GPN

About Global Payments

(Free Report)

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.

Read More

Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc. (NYSE:GPNFree Report).

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

Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.