Algebris UK Ltd Sells 65,088 Shares of Global Payments Inc. (NYSE:GPN)

Algebris UK Ltd lessened its position in Global Payments Inc. (NYSE:GPN) by 73.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,118 shares of the business services provider’s stock after selling 65,088 shares during the period. Global Payments makes up about 0.7% of Algebris UK Ltd’s investment portfolio, making the stock its 27th biggest holding. Algebris UK Ltd’s holdings in Global Payments were worth $2,610,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GPN. Beaird Harris Wealth Management LLC bought a new position in Global Payments in the third quarter valued at $25,000. Whipplewood Advisors LLC bought a new stake in shares of Global Payments during the 4th quarter worth about $37,000. Quintet Private Bank Europe S.A. acquired a new stake in Global Payments in the 4th quarter worth about $38,000. Manchester Capital Management LLC raised its stake in Global Payments by 177.5% in the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider’s stock worth $53,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC raised its stake in Global Payments by 94.4% in the 3rd quarter. LRI Investments LLC now owns 517 shares of the business services provider’s stock worth $53,000 after purchasing an additional 251 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

GPN opened at $95.78 on Wednesday. Global Payments Inc. has a 12-month low of $90.99 and a 12-month high of $136.36. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $105.37 and its 200-day simple moving average is $107.95. The company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.86 and a beta of 1.04.

Global Payments (NYSE:GPN) last issued 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 net margin of 15.54% and a return on equity of 12.21%. The company had revenue of $2.29 billion for 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, March 14th. Global Payments’s dividend payout ratio is presently 16.18%.

Analysts Set New Price Targets

Several equities analysts have recently commented on GPN shares. Keefe, Bruyette & Woods boosted their target price on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley reduced their price objective on shares of Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Citigroup lowered their price objective on shares of Global Payments from $138.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Finally, Stephens downgraded shares of Global Payments from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $125.00 to $120.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.33.

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.