FMR LLC reduced its position in Global Payments Inc (NYSE:GPN) by 23.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,725,451 shares of the business services provider’s stock after selling 2,338,010 shares during the period. FMR LLC owned 4.88% of Global Payments worth $796,726,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in GPN. Ranger Investment Management L.P. bought a new stake in shares of Global Payments in the fourth quarter valued at about $26,000. JOYN Advisors Inc. lifted its holdings in shares of Global Payments by 58.7% in the fourth quarter. JOYN Advisors Inc. now owns 346 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 128 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Global Payments by 35.7% in the fourth quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 107 shares in the last quarter. Private Capital Group LLC lifted its holdings in shares of Global Payments by 164.1% in the fourth quarter. Private Capital Group LLC now owns 544 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 338 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Global Payments in the fourth quarter valued at about $67,000. 98.80% of the stock is owned by institutional investors and hedge funds.
Shares of Global Payments stock traded up $1.03 on Friday, hitting $139.67. The stock had a trading volume of 796,481 shares, compared to its average volume of 846,840. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.47 and a beta of 1.20. Global Payments Inc has a twelve month low of $94.81 and a twelve month high of $139.82.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, March 14th. Global Payments’s payout ratio is presently 0.77%.
In other news, Director Alan M. Silberstein sold 700 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $138.96, for a total value of $97,272.00. Following the completion of the transaction, the director now directly owns 40,355 shares in the company, valued at approximately $5,607,730.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Steven Sloan sold 167,545 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $129.59, for a total value of $21,712,156.55. Following the completion of the transaction, the chief executive officer now owns 579,207 shares of the company’s stock, valued at $75,059,435.13. The disclosure for this sale can be found here. Insiders have sold 210,329 shares of company stock valued at $27,306,584 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.
Several analysts recently issued reports on GPN shares. Nomura upped their target price on Global Payments from $91.00 to $94.00 and gave the stock a “reduce” rating in a report on Monday, February 11th. Zacks Investment Research raised Global Payments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 6th. SunTrust Banks boosted their price target on Global Payments to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. TheStreet raised Global Payments from a “c” rating to a “b-” rating in a research report on Wednesday, February 13th. Finally, KeyCorp lowered their price target on Global Payments from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $135.64.
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About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
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