Bragg Financial Advisors Inc Trims Stake in Global Payments Inc. (NYSE:GPN)

Bragg Financial Advisors Inc cut its holdings in shares of Global Payments Inc. (NYSE:GPN) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,459 shares of the business services provider’s stock after selling 399 shares during the quarter. Bragg Financial Advisors Inc’s holdings in Global Payments were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beaird Harris Wealth Management LLC purchased a new position in Global Payments during the third quarter worth about $25,000. Whipplewood Advisors LLC acquired a new position in shares of Global Payments in the 4th quarter worth approximately $37,000. Quintet Private Bank Europe S.A. purchased a new position in shares of Global Payments during the 4th quarter worth approximately $38,000. Manchester Capital Management LLC increased its holdings 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 valued at $53,000 after purchasing an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Global Payments by 374.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 449 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Stock Up 0.1 %

Shares of NYSE:GPN opened at $85.02 on Tuesday. The firm has a 50 day simple moving average of $98.06 and a 200-day simple moving average of $105.60. Global Payments Inc. has a twelve month low of $77.83 and a twelve month high of $127.66. 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 company has a market capitalization of $20.90 billion, a PE ratio of 13.76, a P/E/G ratio of 0.86 and a beta of 0.97.

Global Payments (NYSE:GPN) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $2.31 billion. On average, equities analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.18%. Global Payments’s dividend payout ratio is presently 16.18%.

Wall Street Analyst Weigh In

GPN has been the subject of several research analyst reports. Barclays lowered their price target on Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods dropped their target price on Global Payments from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Monday, March 31st. Evercore ISI assumed coverage on shares of Global Payments in a research note on Wednesday, April 9th. They set an “in-line” rating and a $85.00 price target on the stock. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley cut their target price 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $130.52.

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.