Credit Agricole S A decreased its stake in Global Payments Inc. (NYSE:GPN) by 17.1% during the first quarter, Holdings Channel reports. The fund owned 31,158 shares of the business services provider’s stock after selling 6,439 shares during the period. Credit Agricole S A’s holdings in Global Payments were worth $2,515,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GPN. Norges Bank purchased a new stake in shares of Global Payments during the fourth quarter valued at $92,838,000. Pictet Asset Management Ltd. increased its stake in shares of Global Payments by 240.0% in the first quarter. Pictet Asset Management Ltd. now owns 1,106,252 shares of the business services provider’s stock valued at $89,252,000 after buying an additional 780,922 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Global Payments by 12.3% in the first quarter. Jennison Associates LLC now owns 2,959,499 shares of the business services provider’s stock valued at $238,772,000 after buying an additional 324,884 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Global Payments by 1,669.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 263,388 shares of the business services provider’s stock valued at $18,290,000 after buying an additional 248,499 shares during the last quarter. Finally, Rathbone Brothers plc purchased a new stake in shares of Global Payments during the first quarter valued at $18,556,000. 98.92% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

Shares of Global Payments Inc. (GPN) traded up 0.82% during trading on Tuesday, reaching $90.49. 97,619 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $89.30 and its 200 day moving average price is $80.20. Global Payments Inc. has a 52 week low of $64.63 and a 52 week high of $93.52. The firm has a market capitalization of $13.80 billion, a PE ratio of 71.20 and a beta of 1.06.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, May 4th. The business services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.10. Global Payments had a net margin of 6.22% and a return on equity of 17.38%. The company had revenue of $919.76 million during the quarter, compared to analyst estimates of $767.09 million. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 46.9% on a year-over-year basis. Analysts predict that Global Payments Inc. will post $3.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be given a dividend of $0.0133 per share. This is a positive change from Global Payments’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, June 7th. This represents a $0.05 annualized dividend and a dividend yield of 0.06%. Global Payments’s dividend payout ratio (DPR) is 3.45%.

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Several analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $107.25 target price (up previously from $85.00) on shares of Global Payments in a report on Tuesday, June 6th. Instinet reaffirmed a “reduce” rating and issued a $79.00 target price (up previously from $70.00) on shares of Global Payments in a report on Wednesday, May 17th. BMO Capital Markets lifted their target price on shares of Global Payments from $91.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Stifel Nicolaus assumed coverage on shares of Global Payments in a report on Thursday, June 1st. They issued a “buy” rating and a $102.00 target price on the stock. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $96.00 target price on shares of Global Payments in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $88.63.

In other news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $78.21, for a total transaction of $46,926.00. Following the completion of the transaction, the director now owns 47,893 shares in the company, valued at approximately $3,745,711.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of the firm’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $80.00, for a total transaction of $280,000.00. Following the transaction, the director now owns 265,752 shares of the company’s stock, valued at approximately $21,260,160. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,402 shares of company stock valued at $5,980,040. Insiders own 0.93% of the company’s stock.

About Global Payments

Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.

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