1ST Source Bank Trims Position in Global Payments Inc. (NYSE:GPN)

1ST Source Bank cut its position in Global Payments Inc. (NYSE:GPN) by 34.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,440 shares of the business services provider’s stock after selling 1,260 shares during the period. 1ST Source Bank’s holdings in Global Payments were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its stake in shares of Global Payments by 1.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider’s stock worth $1,228,000 after purchasing an additional 117 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Global Payments by 3.3% in the fourth quarter. Natixis Advisors LLC now owns 234,940 shares of the business services provider’s stock worth $26,327,000 after purchasing an additional 7,456 shares in the last quarter. Integras Partners LLC bought a new position in shares of Global Payments during the fourth quarter worth $312,000. Commonwealth Equity Services LLC boosted its position in shares of Global Payments by 255.7% during 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 during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Global Payments by 148.5% during 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 during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays dropped their target price on shares of Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group restated a “neutral” rating and set a $122.00 target price (down previously from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Stephens lowered shares of Global Payments from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $125.00 to $120.00 in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.33.

Global Payments Price Performance

Global Payments stock opened at $95.82 on Tuesday. The firm 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 firm has a 50-day moving average price of $105.70 and a 200-day moving average price of $108.06. 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 posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.14). The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. As a group, equities research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid 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%.

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.