Quest Partners LLC Takes Position in Global Payments Inc. (NYSE:GPN)

Quest Partners LLC bought a new stake in shares of Global Payments Inc. (NYSE:GPN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,547 shares of the business services provider’s stock, valued at approximately $704,000.

Several other institutional investors also recently bought and sold shares of GPN. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Global Payments during the 4th quarter worth about $30,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Global Payments during the 4th quarter worth approximately $41,000. Parkside Financial Bank & Trust grew its position in Global Payments by 77.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock worth $47,000 after purchasing an additional 178 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Global Payments by 26.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock worth $48,000 after purchasing an additional 7,369 shares during the last quarter. Finally, CVA Family Office LLC purchased a new stake in Global Payments during the 4th quarter worth approximately $50,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GPN shares. Mizuho dropped their price objective on shares of Global Payments from $129.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, May 15th. Monness Crespi & Hardt dropped their price objective on shares of Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. TD Cowen dropped their price objective on shares of Global Payments from $160.00 to $152.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Global Payments from $158.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Finally, Susquehanna dropped their price objective on shares of Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $149.11.

Insider Activity at Global Payments

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the completion of the transaction, the vice president now owns 25,209 shares of the company’s stock, valued at $2,806,770.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.98% of the stock is currently owned by insiders.

Global Payments Trading Down 1.0 %

Shares of GPN opened at $106.31 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 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 50-day moving average price of $121.97 and a 200 day moving average price of $124.79. The firm has a market capitalization of $27.14 billion, a P/E ratio of 21.09, a P/E/G ratio of 0.68 and a beta of 0.97.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. Sell-side analysts forecast that Global Payments Inc. will post 11.08 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed 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 dividend yield of 0.94%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio is currently 19.84%.

Global Payments 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.