Algebris UK Ltd Cuts Position in Global Payments Inc. (NYSE:GPN)

Algebris UK Ltd lessened its position in shares of Global Payments Inc. (NYSE:GPN) by 73.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,118 shares of the business services provider’s stock after selling 65,088 shares during the quarter. Global Payments comprises 0.7% of Algebris UK Ltd’s portfolio, making the stock its 27th biggest holding. Algebris UK Ltd’s holdings in Global Payments were worth $2,610,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GPN. Beaird Harris Wealth Management LLC purchased a new position in shares of Global Payments in the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC purchased a new position in shares of Global Payments in the 4th quarter worth approximately $37,000. Quintet Private Bank Europe S.A. purchased a new position in shares of Global Payments in the 4th quarter worth approximately $38,000. LRI Investments LLC boosted its holdings 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 boosted its holdings 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. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GPN. Morgan Stanley dropped their target price on Global Payments from $166.00 to $163.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Stephens lowered Global Payments from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $125.00 to $120.00 in a research report on Friday, January 10th. Barclays reduced their price target on Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their price target on Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.33.

Global Payments Stock Up 0.1 %

GPN stock opened at $95.78 on Wednesday. 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 Inc. has a 1 year low of $90.99 and a 1 year high of $136.36. The company has a fifty day simple moving average of $105.37 and a 200 day simple moving average of $107.95. The firm has a market cap of $23.55 billion, a PE ratio of 15.50, a PEG ratio of 0.86 and a beta of 1.04.

Global Payments (NYSE:GPN) last announced its earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.14). The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Sell-side analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. Global Payments’s dividend payout ratio (DPR) is presently 16.18%.

Global Payments 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.