Frank Rimerman Advisors LLC Sells 903 Shares of Global Payments Inc. (NYSE:GPN)

Frank Rimerman Advisors LLC cut its position in shares of Global Payments Inc. (NYSE:GPN) by 24.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,738 shares of the business services provider’s stock after selling 903 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Global Payments were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Integras Partners LLC bought a new stake in Global Payments in the fourth quarter worth $312,000. Commonwealth Equity Services LLC boosted its holdings in Global Payments by 255.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 37,909 shares of the business services provider’s stock worth $4,248,000 after acquiring an additional 27,252 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Global Payments by 148.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 49,700 shares of the business services provider’s stock worth $5,508,000 after acquiring an additional 29,700 shares in the last quarter. Erste Asset Management GmbH boosted its holdings in Global Payments by 26.8% in the fourth quarter. Erste Asset Management GmbH now owns 25,220 shares of the business services provider’s stock worth $2,833,000 after acquiring an additional 5,331 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Global Payments by 2.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,484 shares of the business services provider’s stock valued at $727,000 after purchasing an additional 173 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GPN has been the topic of several recent analyst reports. Morgan Stanley dropped their price objective on Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Bank of America dropped their price objective on Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Citigroup dropped their price objective on Global Payments from $138.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods increased their price objective on Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $134.33.

Global Payments Stock Up 1.7 %

Shares of GPN opened at $95.82 on Tuesday. The business’s 50 day moving average is $105.70 and its 200 day moving average is $108.06. The company has a market capitalization of $23.73 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04. 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.

Global Payments (NYSE:GPN) last issued its earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.14). The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. Research analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.25 per share. 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 (DPR) is presently 16.18%.

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.