CIBC Private Wealth Group LLC Sells 904 Shares of Global Payments Inc. (NYSE:GPN)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN) by 16.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,717 shares of the business services provider’s stock after selling 904 shares during the period. CIBC Private Wealth Group LLC’s holdings in Global Payments were worth $525,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Nordea Investment Management AB lifted its stake in Global Payments by 13.4% during the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider’s stock worth $330,516,000 after purchasing an additional 349,457 shares during the period. Caprock Group LLC boosted its stake in Global Payments by 9.8% in the 4th quarter. Caprock Group LLC now owns 2,313 shares of the business services provider’s stock valued at $259,000 after buying an additional 206 shares in the last quarter. Van ECK Associates Corp grew its position in Global Payments by 106.1% in the fourth quarter. Van ECK Associates Corp now owns 50,705 shares of the business services provider’s stock valued at $5,682,000 after acquiring an additional 26,104 shares during the period. Focused Investors LLC acquired a new position in Global Payments during the fourth quarter worth $99,969,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Global Payments by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,614,533 shares of the business services provider’s stock valued at $180,925,000 after acquiring an additional 72,992 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Down 8.8 %

Shares of Global Payments stock opened at $84.82 on Friday. Global Payments Inc. has a 12 month low of $84.50 and a 12 month high of $129.35. The business has a fifty day simple moving average of $102.35 and a 200 day simple moving average of $106.83. 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 stock has a market cap of $20.85 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Research analysts predict that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Friday, March 14th. Global Payments’s dividend payout ratio is currently 16.18%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GPN shares. Keefe, Bruyette & Woods dropped their target price on shares of Global Payments from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Monday, March 31st. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays decreased their price target on Global Payments from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Citigroup cut their price objective on Global Payments from $138.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, Bank of America decreased their target price on Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock 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 issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.10.

About Global Payments

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.