1ST Source Bank Cuts Stock Holdings in Global Payments Inc. (NYSE:GPN)

1ST Source Bank decreased its holdings in shares of Global Payments Inc. (NYSE:GPN) by 34.1% during the fourth quarter, HoldingsChannel reports. The firm owned 2,440 shares of the business services provider’s stock after selling 1,260 shares during the period. 1ST Source Bank’s holdings in Global Payments were worth $273,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Tidal Investments LLC increased its position in Global Payments by 0.3% during the 3rd quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock valued at $2,760,000 after purchasing an additional 86 shares during the period. Sage Capital Advisors llc increased its position in Global Payments by 0.3% during the 4th quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider’s stock valued at $3,164,000 after purchasing an additional 96 shares during the period. SYM FINANCIAL Corp increased its position in Global Payments by 4.1% during the 3rd quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 97 shares during the period. Private Trust Co. NA increased its position in Global Payments by 11.2% during the 4th quarter. Private Trust Co. NA now owns 992 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 100 shares during the period. Finally, Truvestments Capital LLC increased its position in Global Payments by 2.9% during the 4th quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider’s stock valued at $413,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

Global Payments stock opened at $95.82 on Tuesday. Global Payments Inc. has a 52-week low of $90.99 and a 52-week high of $136.36. The firm has a market capitalization 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 fifty day simple moving average of $105.70 and a 200-day simple moving average of $108.06. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66.

Global Payments (NYSE:GPN) last released its earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. On average, equities analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company 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 dividend of $0.25 per share. The ex-dividend date is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Global Payments’s payout ratio is 16.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GPN shares. The Goldman Sachs Group restated a “neutral” rating and issued a $122.00 price target (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Keefe, Bruyette & Woods raised their price target on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Bank of America lowered their target price on shares of Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Morgan Stanley lowered their target price on shares of Global Payments from $166.00 to $163.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Barclays decreased their price objective on shares of Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.33.

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.