Kendall Capital Management Trims Holdings in Global Payments Inc (NYSE:GPN)

Kendall Capital Management trimmed its position in Global Payments Inc (NYSE:GPN) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,738 shares of the business services provider’s stock after selling 1,034 shares during the period. Kendall Capital Management’s holdings in Global Payments were worth $1,230,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its stake in shares of Global Payments by 19.0% during the 3rd quarter. Lindbrook Capital LLC now owns 400 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 64 shares during the last quarter. First Financial Corp IN increased its stake in shares of Global Payments by 38.5% during the 4th quarter. First Financial Corp IN now owns 234 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 65 shares during the last quarter. First Hawaiian Bank increased its stake in shares of Global Payments by 0.7% during the 4th quarter. First Hawaiian Bank now owns 10,394 shares of the business services provider’s stock valued at $1,898,000 after acquiring an additional 69 shares during the last quarter. Optimum Investment Advisors increased its stake in shares of Global Payments by 2.4% during the 4th quarter. Optimum Investment Advisors now owns 3,243 shares of the business services provider’s stock valued at $592,000 after acquiring an additional 75 shares during the last quarter. Finally, First Allied Advisory Services Inc. increased its stake in shares of Global Payments by 5.7% during the 3rd quarter. First Allied Advisory Services Inc. now owns 1,422 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

GPN has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Global Payments from $137.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday. Oppenheimer upped their price objective on shares of Global Payments from $178.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. William Blair reaffirmed an “outperform” rating on shares of Global Payments in a research note on Thursday, October 17th. Citigroup upped their price objective on shares of Global Payments from $197.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group upped their price objective on shares of Global Payments from $195.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have given a buy rating to the company. Global Payments has an average rating of “Buy” and a consensus price target of $192.51.

In other Global Payments news, Director Kriss Cloninger III sold 7,877 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $169.15, for a total value of $1,332,394.55. Following the completion of the transaction, the director now owns 26,155 shares in the company, valued at approximately $4,424,118.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $193.70, for a total value of $116,220.00. Following the completion of the transaction, the director now owns 26,588 shares of the company’s stock, valued at approximately $5,150,095.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,677 shares of company stock valued at $1,660,457. 0.88% of the stock is owned by company insiders.

NYSE GPN traded down $1.01 on Friday, reaching $198.77. The company had a trading volume of 1,206,037 shares, compared to its average volume of 1,245,190. The firm has a market capitalization of $59.74 billion, a PE ratio of 79.83, a P/E/G ratio of 1.52 and a beta of 0.95. Global Payments Inc has a 1 year low of $110.69 and a 1 year high of $202.58. The firm has a 50-day moving average of $186.00 and a 200-day moving average of $170.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 1.17.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, October 31st. The business services provider reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Global Payments had a return on equity of 9.05% and a net margin of 10.59%. Global Payments’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. As a group, sell-side analysts expect that Global Payments Inc will post 5.82 EPS for the current fiscal year.

The business also recently declared a dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.195 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This is a boost from Global Payments’s previous dividend of $0.01. Global Payments’s dividend payout ratio is currently 15.03%.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It 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 online reporting services.

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

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