Sherbrooke Park Advisers LLC Takes Position in Global Payments Inc. (NYSE:GPN)

Sherbrooke Park Advisers LLC acquired a new position in shares of Global Payments Inc. (NYSE:GPN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,926 shares of the business services provider’s stock, valued at approximately $776,000.

Several other hedge funds have also added to or reduced their stakes in GPN. Optiver Holding B.V. acquired a new stake in Global Payments during the 4th quarter worth $28,000. Whipplewood Advisors LLC acquired a new stake in Global Payments during the 4th quarter worth $37,000. Quintet Private Bank Europe S.A. acquired a new stake in Global Payments during the 4th quarter worth $38,000. Manchester Capital Management LLC raised its stake in Global Payments by 177.5% during the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider’s stock worth $53,000 after buying an additional 300 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in Global Payments by 374.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider’s stock worth $64,000 after buying an additional 449 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Trading Down 0.3%

Global Payments stock opened at $82.90 on Friday. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $120.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. The stock has a market capitalization of $20.22 billion, a P/E ratio of 13.41, a PEG ratio of 0.86 and a beta of 0.96. The stock has a 50-day simple moving average of $85.54 and a 200 day simple moving average of $101.88.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.09. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the company posted $2.59 earnings per share. Global Payments’s quarterly revenue was down .3% on a year-over-year basis. Analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.21%. Global Payments’s dividend payout ratio (DPR) is presently 16.13%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GPN shares. Citigroup reaffirmed a “buy” rating on shares of Global Payments in a research note on Monday, April 21st. Jefferies Financial Group cut Global Payments from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Friday, April 18th. Royal Bank of Canada cut Global Payments from an “outperform” rating to a “sector perform” rating and set a $86.00 target price for the company. in a report on Friday, April 25th. Cowen cut Global Payments from a “buy” rating to a “hold” rating in a report on Monday, April 21st. Finally, Robert W. Baird lowered their target price on Global Payments from $145.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $112.43.

Global Payments Company 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.