Global Payments Inc. (NYSE:GPN) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its stake in shares of Global Payments Inc. (NYSE:GPN) by 35.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,641 shares of the business services provider’s stock after selling 22,229 shares during the period. New York Life Investment Management LLC’s holdings in Global Payments were worth $5,161,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BluePath Capital Management LLC acquired a new stake in Global Payments during the 3rd quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Global Payments during the 4th quarter valued at about $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Global Payments in the 4th quarter valued at about $41,000. CVA Family Office LLC purchased a new stake in shares of Global Payments in the fourth quarter worth about $50,000. Finally, Parkside Financial Bank & Trust raised its position in Global Payments by 77.7% during the third quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 178 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Trading Up 0.7 %

NYSE:GPN opened at $111.34 on Friday. The stock has a fifty day moving average price of $127.93 and a 200 day moving average price of $124.72. The company has a current ratio of 0.92, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68. Global Payments Inc. has a 12-month low of $95.12 and a 12-month high of $141.77. The firm has a market cap of $28.42 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 0.71 and a beta of 0.97.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the company posted $2.30 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Global Payments Inc. will post 10.94 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is 19.84%.

Analyst Upgrades and Downgrades

Several analysts recently commented on GPN shares. Barclays dropped their price target on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday. Robert W. Baird cut their price target on Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday. UBS Group increased their price target on Global Payments from $130.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. BMO Capital Markets cut their price objective on Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Morgan Stanley increased their target price on Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Global Payments has a consensus rating of “Moderate Buy” and an average target price of $150.00.

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.