Ossiam Cuts Stock Holdings in Global Payments Inc. (NYSE:GPN)

Ossiam cut its stake in shares of Global Payments Inc. (NYSE:GPN) by 86.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,138 shares of the business services provider’s stock after selling 193,858 shares during the period. Ossiam’s holdings in Global Payments were worth $3,377,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GPN. BI Asset Management Fondsmaeglerselskab A S grew its position in Global Payments by 833.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,701 shares of the business services provider’s stock worth $2,096,000 after purchasing an additional 16,697 shares in the last quarter. Forum Financial Management LP increased its position in shares of Global Payments by 7.5% during the fourth quarter. Forum Financial Management LP now owns 3,863 shares of the business services provider’s stock valued at $433,000 after acquiring an additional 269 shares during the last quarter. GeoWealth Management LLC lifted its holdings in Global Payments by 558.9% during the fourth quarter. GeoWealth Management LLC now owns 1,779 shares of the business services provider’s stock worth $199,000 after acquiring an additional 1,509 shares during the period. Cramer Rosenthal Mcglynn LLC boosted its position in Global Payments by 261.7% in the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 276,512 shares of the business services provider’s stock worth $30,986,000 after purchasing an additional 200,057 shares during the last quarter. Finally, Callodine Capital Management LP bought a new position in Global Payments in the 4th quarter valued at $16,809,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Price Performance

Shares of NYSE:GPN opened at $69.50 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. The company’s fifty day moving average price is $95.50 and its 200-day moving average price is $104.93. Global Payments Inc. has a one year low of $68.48 and a one year high of $127.66. The firm has a market capitalization of $17.09 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.86 and a beta of 0.97.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. On average, equities research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, March 14th. Global Payments’s dividend payout ratio (DPR) is presently 16.18%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GPN shares. Evercore ISI initiated coverage on shares of Global Payments in a research report on Wednesday, April 9th. They set an “in-line” rating and a $85.00 price target for the company. Jefferies Financial Group cut shares of Global Payments from a “buy” rating to a “hold” rating in a report on Friday. StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Stephens cut Global Payments from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $125.00 to $120.00 in a research report on Friday, January 10th. Finally, Morgan Stanley lowered their price objective on Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $124.73.

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.