Honkamp Krueger Financial Services Inc. Has $1.17 Million Stake in Global Payments Inc (GPN)
Honkamp Krueger Financial Services Inc. cut its position in Global Payments Inc (NYSE:GPN) by 19.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,661 shares of the business services provider’s stock after selling 2,727 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in Global Payments were worth $1,169,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Global Payments in the fourth quarter valued at $120,000. Tower Research Capital LLC TRC raised its holdings in Global Payments by 2,412.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock valued at $166,000 after acquiring an additional 1,592 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Global Payments in the third quarter valued at $198,000. Klingenstein Fields & Co. LLC acquired a new stake in Global Payments in the fourth quarter valued at $204,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Global Payments in the third quarter valued at $209,000. Institutional investors and hedge funds own 95.74% of the company’s stock.
Shares of Global Payments Inc (GPN) opened at $114.35 on Monday. The firm has a market cap of $18,202.27, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.14. Global Payments Inc has a twelve month low of $76.47 and a twelve month high of $114.86. The company has a current ratio of 1.13, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15.
Global Payments announced that its board has authorized a share buyback program on Thursday, February 15th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be issued a $0.01 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is presently 1.34%.
In related news, Director Alan M. Silberstein sold 600 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $101.55, for a total value of $60,930.00. Following the sale, the director now owns 44,893 shares of the company’s stock, valued at approximately $4,558,884.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 3,000 shares of company stock worth $310,314. Corporate insiders own 0.93% of the company’s stock.
GPN has been the topic of several recent analyst reports. Morgan Stanley upped their price target on shares of Global Payments from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $108.00 price target (up from $103.00) on shares of Global Payments in a report on Thursday, November 9th. Nomura upped their price target on shares of Global Payments from $83.00 to $85.00 and gave the company a “reduce” rating in a report on Thursday, November 9th. Zacks Investment Research cut shares of Global Payments from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Oppenheimer upped their price target on shares of Global Payments from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $107.69.
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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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