Point72 Asia Singapore Pte. Ltd. Trims Stock Position in Global Payments Inc. (NYSE:GPN)

Point72 Asia Singapore Pte. Ltd. lessened its position in shares of Global Payments Inc. (NYSE:GPN) by 93.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 522 shares of the business services provider’s stock after selling 7,082 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Global Payments were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GPN. Park Avenue Securities LLC raised its position in shares of Global Payments by 27.9% in the fourth quarter. Park Avenue Securities LLC now owns 7,358 shares of the business services provider’s stock worth $825,000 after buying an additional 1,604 shares in the last quarter. Avanza Fonder AB bought a new position in Global Payments in the 4th quarter worth about $2,154,000. Merit Financial Group LLC raised its holdings in shares of Global Payments by 10.3% in the 4th quarter. Merit Financial Group LLC now owns 5,219 shares of the business services provider’s stock valued at $585,000 after acquiring an additional 489 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Global Payments during the 4th quarter valued at about $277,000. Finally, Lbmc Investment Advisors LLC bought a new stake in shares of Global Payments during the 4th quarter valued at about $204,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Global Payments from $105.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Evercore ISI assumed coverage on shares of Global Payments in a report on Wednesday, April 9th. They issued an “in-line” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Global Payments from $115.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Citigroup reissued a “buy” rating on shares of Global Payments in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods raised their price target on Global Payments from $78.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.43.

Global Payments Trading Down 0.7%

Shares of GPN opened at $82.37 on Monday. The stock has a market capitalization of $20.09 billion, a P/E ratio of 13.33, a PEG ratio of 0.86 and a beta of 0.96. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $85.32 and a two-hundred day simple moving average of $101.74.

Global Payments (NYSE:GPN) last posted its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.09. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm earned $2.59 earnings per share. Global Payments’s quarterly revenue was down .3% on a year-over-year basis. On average, research analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Global Payments’s dividend payout ratio is presently 16.13%.

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.