Greatmark Investment Partners Inc. Lowers Stock Holdings in Global Payments Inc. (NYSE:GPN)

Greatmark Investment Partners Inc. trimmed its stake in Global Payments Inc. (NYSE:GPN) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,617 shares of the business services provider’s stock after selling 2,168 shares during the period. Greatmark Investment Partners Inc.’s holdings in Global Payments were worth $6,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GPN. Beaird Harris Wealth Management LLC purchased a new stake in Global Payments in the 3rd quarter valued at about $25,000. Whipplewood Advisors LLC purchased a new stake in shares of Global Payments in the 4th quarter worth approximately $37,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Global Payments in the 4th quarter worth approximately $38,000. LRI Investments LLC lifted its position in shares of Global Payments by 94.4% in the 3rd quarter. LRI Investments LLC now owns 517 shares of the business services provider’s stock worth $53,000 after purchasing an additional 251 shares during the period. Finally, Manchester Capital Management LLC lifted its position in shares of Global Payments by 177.5% in the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider’s stock worth $53,000 after purchasing an additional 300 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GPN. Barclays lowered their price target on shares of Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Bank of America lowered their price target on shares of Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Keefe, Bruyette & Woods upped their price target on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Morgan Stanley reduced their price objective on shares of Global Payments from $166.00 to $163.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.33.

Global Payments Trading Up 2.1 %

Shares of Global Payments stock opened at $94.15 on Friday. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.86 and a beta of 1.04. Global Payments Inc. has a 12-month low of $90.99 and a 12-month high of $136.36. The firm’s 50 day simple moving average is $106.05 and its two-hundred day simple moving average is $108.18. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Analysts predict that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. Global Payments’s payout ratio is currently 16.18%.

Global Payments Company Profile

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.