Frank Rimerman Advisors LLC Cuts Position in Global Payments Inc. (NYSE:GPN)

Frank Rimerman Advisors LLC lessened its position in shares of Global Payments Inc. (NYSE:GPN) by 24.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,738 shares of the business services provider’s stock after selling 903 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Global Payments were worth $307,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GPN. Atria Investments Inc grew its holdings in Global Payments by 7.8% during the 3rd quarter. Atria Investments Inc now owns 9,850 shares of the business services provider’s stock valued at $1,009,000 after buying an additional 711 shares in the last quarter. Metis Global Partners LLC grew its holdings in Global Payments by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 8,257 shares of the business services provider’s stock valued at $846,000 after buying an additional 116 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Global Payments by 93.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 15,582 shares of the business services provider’s stock valued at $1,596,000 after buying an additional 7,529 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Global Payments by 19.6% during the 3rd quarter. CIBC Asset Management Inc now owns 50,848 shares of the business services provider’s stock valued at $5,208,000 after buying an additional 8,320 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Global Payments by 28.0% in the 3rd quarter. Natixis Advisors LLC now owns 227,484 shares of the business services provider’s stock worth $23,299,000 after purchasing an additional 49,726 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup dropped their target price on Global Payments from $138.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. 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 cut Global Payments from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $125.00 to $120.00 in a report on Friday, January 10th. Barclays dropped their target price on Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Bank of America dropped their target price on Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a report on Friday, February 14th. One 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.33.

Global Payments Trading Up 1.7 %

GPN opened at $95.82 on Tuesday. The firm has a market cap of $23.73 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.86 and a beta of 1.04. 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 12 month low of $90.99 and a 12 month high of $136.36. The stock has a fifty day moving average price of $105.70 and a 200-day moving average price of $108.06.

Global Payments (NYSE:GPN) last released its quarterly 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 company 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%. As a group, equities research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

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

Global Payments Company 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.