State of Alaska Department of Revenue decreased its stake in shares of Global Payments Inc (NYSE:GPN) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,227 shares of the business services provider’s stock after selling 2,205 shares during the quarter. State of Alaska Department of Revenue’s holdings in Global Payments were worth $3,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Ranger Investment Management L.P. acquired a new stake in shares of Global Payments during the 4th quarter worth approximately $26,000. JOYN Advisors Inc. grew its position in shares of Global Payments by 58.7% during the 4th quarter. JOYN Advisors Inc. now owns 346 shares of the business services provider’s stock worth $36,000 after buying an additional 128 shares during the period. Bessemer Group Inc. grew its position in shares of Global Payments by 35.7% during the 4th quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock worth $43,000 after buying an additional 107 shares during the period. Legacy Advisors LLC acquired a new stake in shares of Global Payments during the 1st quarter worth approximately $44,000. Finally, Private Capital Group LLC grew its position in shares of Global Payments by 164.1% during the 4th quarter. Private Capital Group LLC now owns 544 shares of the business services provider’s stock worth $56,000 after buying an additional 338 shares during the period. 98.80% of the stock is owned by institutional investors.

In related news, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $121.49, for a total value of $425,215.00. Following the sale, the director now directly owns 68,817 shares in the company, valued at approximately $8,360,577.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan M. Silberstein sold 4,276 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $132.43, for a total value of $566,270.68. Following the completion of the sale, the director now owns 51,049 shares in the company, valued at $6,760,419.07. The disclosure for this sale can be found here. Insiders sold a total of 209,629 shares of company stock worth $27,209,312 over the last 90 days. 0.88% of the stock is currently owned by company insiders.

Several analysts have recently commented on the stock. Goldman Sachs Group raised shares of Global Payments from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $122.00 to $128.00 in a research report on Tuesday, January 8th. Wedbush lifted their price target on shares of Global Payments from $135.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. TheStreet raised shares of Global Payments from a “c” rating to a “b-” rating in a research report on Wednesday, February 13th. Zacks Investment Research downgraded shares of Global Payments from a “hold” rating to a “sell” rating in a research report on Wednesday, January 9th. Finally, Nomura reissued a “sell” rating and issued a $91.00 price target (down previously from $97.00) on shares of Global Payments in a research report on Tuesday, December 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. Global Payments presently has an average rating of “Buy” and an average target price of $134.67.

NYSE GPN opened at $139.14 on Monday. The firm has a market cap of $21.64 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. Global Payments Inc has a one year low of $94.81 and a one year high of $139.40. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.20.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, February 13th. The business services provider reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.08. Global Payments had a return on equity of 19.11% and a net margin of 13.43%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the business posted $1.07 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Global Payments Inc will post 5.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, March 14th. Global Payments’s dividend payout ratio is currently 0.77%.

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Global Payments Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

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

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