Intech Investment Management LLC Buys 395 Shares of Global Payments Inc. (NYSE:GPN)

Intech Investment Management LLC raised its holdings in shares of Global Payments Inc. (NYSE:GPN – Get Rating) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,606 shares of the business services provider’s stock after buying an additional 395 shares during the period. Intech Investment Management LLC’s holdings in Global Payments were worth $755,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Nicholas Company Inc. boosted its position in shares of Global Payments by 41.3% during the fourth quarter. Nicholas Company Inc. now owns 379,812 shares of the business services provider’s stock valued at $37,723,000 after buying an additional 111,035 shares during the period. Southeast Asset Advisors Inc. boosted its position in shares of Global Payments by 27.1% during the fourth quarter. Southeast Asset Advisors Inc. now owns 8,212 shares of the business services provider’s stock valued at $816,000 after buying an additional 1,750 shares during the period. Cibc World Markets Corp boosted its position in shares of Global Payments by 103.8% during the fourth quarter. Cibc World Markets Corp now owns 44,231 shares of the business services provider’s stock valued at $4,393,000 after buying an additional 22,526 shares during the period. Manchester Capital Management LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at approximately $217,000. Finally, Rock Point Advisors LLC boosted its holdings in shares of Global Payments by 80.4% in the fourth quarter. Rock Point Advisors LLC now owns 29,207 shares of the business services provider’s stock valued at $2,901,000 after purchasing an additional 13,018 shares during the period. Hedge funds and other institutional investors own 87.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GPN shares. Morgan Stanley boosted their price target on Global Payments from $135.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, February 13th. Raymond James reduced their price objective on shares of Global Payments from $160.00 to $156.00 in a research note on Tuesday, May 2nd. JPMorgan Chase & Co. began coverage on Global Payments in a research report on Tuesday, April 18th. They set a “neutral” rating and a $124.00 price target on the stock. StockNews.com began coverage on Global Payments in a research report on Thursday. They set a “hold” rating on the stock. Finally, Robert W. Baird raised Global Payments from a “neutral” rating to an “outperform” rating and upped their target price for the company from $130.00 to $156.00 in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.30.

Insider Buying and Selling at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,562 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $113.08, for a total value of $176,630.96. Following the completion of the transaction, the chief accounting officer now owns 28,032 shares of the company’s stock, valued at approximately $3,169,858.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by insiders.

Global Payments Trading Down 2.0 %

Shares of Global Payments stock opened at $101.96 on Monday. The firm has a market capitalization of $26.71 billion, a PE ratio of -216.93, a P/E/G ratio of 0.67 and a beta of 1.00. Global Payments Inc. has a twelve month low of $92.27 and a twelve month high of $136.88. The firm’s 50-day moving average price is $103.88 and its 200 day moving average price is $104.78. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.74.

Global Payments (NYSE:GPN – Get Rating) last released its quarterly earnings data on Monday, May 1st. The business services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.09. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.01 billion. Global Payments had a negative net margin of 1.58% and a positive return on equity of 10.67%. Global Payments’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. On average, sell-side analysts predict that Global Payments Inc. will post 9.65 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. Global Payments’s payout ratio is -212.76%.

Global Payments Company Profile

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Global Payments, Inc engages in the provision of payment technology and software solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions. The Merchant Solutions segment provides payments technology and software solutions to customers globally.