Coastline Trust Co Sells 2,300 Shares of Global Payments Inc. (NYSE:GPN)

Coastline Trust Co lessened its holdings in shares of Global Payments Inc. (NYSE:GPN) by 46.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,640 shares of the business services provider’s stock after selling 2,300 shares during the period. Coastline Trust Co’s holdings in Global Payments were worth $259,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Optiver Holding B.V. bought a new position in Global Payments in the 4th quarter worth approximately $28,000. NBC Securities Inc. bought a new position in Global Payments during the first quarter worth $30,000. True Wealth Design LLC bought a new position in Global Payments during the fourth quarter worth $40,000. Golden State Wealth Management LLC raised its stake in Global Payments by 4,866.7% during the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 438 shares during the last quarter. Finally, TFC Financial Management Inc. boosted its holdings in Global Payments by 9,580.0% in the 1st quarter. TFC Financial Management Inc. now owns 484 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 479 shares during the period. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

GPN has been the topic of several research reports. Wolfe Research restated a “peer perform” rating on shares of Global Payments in a report on Wednesday, April 23rd. Jefferies Financial Group lowered Global Payments from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Friday, April 18th. Cowen cut Global Payments from a “buy” rating to a “hold” rating in a report on Monday, April 21st. KeyCorp lifted their price objective on Global Payments from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, Robert W. Baird cut their target price on Global Payments from $145.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments presently has an average rating of “Hold” and an average target price of $110.91.

Global Payments Stock Performance

Global Payments stock opened at $81.92 on Thursday. The stock has a 50-day simple moving average of $77.78 and a 200 day simple moving average of $93.28. The stock has a market capitalization of $19.98 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 0.78 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the company posted $2.59 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Global Payments’s payout ratio is 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.