CIBC Asset Management Inc Has $5.89 Million Stock Position in Global Payments Inc. (NYSE:GPN)

CIBC Asset Management Inc boosted its position in Global Payments Inc. (NYSE:GPN) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 52,527 shares of the business services provider’s stock after acquiring an additional 1,679 shares during the quarter. CIBC Asset Management Inc’s holdings in Global Payments were worth $5,886,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Pzena Investment Management LLC boosted its holdings in Global Payments by 3.4% during the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after acquiring an additional 215,399 shares during the period. Geode Capital Management LLC boosted its holdings in Global Payments by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock valued at $605,078,000 after acquiring an additional 31,934 shares during the period. Franklin Resources Inc. boosted its holdings in Global Payments by 1.5% during the third quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock valued at $564,437,000 after acquiring an additional 83,481 shares during the period. Nordea Investment Management AB boosted its holdings in Global Payments by 13.4% during the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider’s stock valued at $330,516,000 after acquiring an additional 349,457 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Global Payments by 22.7% during the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after acquiring an additional 490,411 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

NYSE GPN opened at $106.59 on Thursday. The firm has a market cap of $27.13 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 0.79 and a beta of 1.01. The company has a 50 day moving average of $110.36 and a 200-day moving average of $108.77. 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 Inc. has a 1-year low of $91.60 and a 1-year high of $140.38.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.14). The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. On average, equities analysts forecast that Global Payments Inc. will post 12.08 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, March 14th. Global Payments’s payout ratio is 16.18%.

Analysts Set New Price Targets

GPN has been the subject of a number of recent analyst reports. Bank of America decreased their price target on shares of Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a report on Friday, February 14th. Morgan Stanley decreased their price target on shares of Global Payments from $166.00 to $163.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Barclays reduced 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 note on Tuesday. Keefe, Bruyette & Woods increased their target price on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Global Payments presently has an average rating of “Moderate Buy” and an average target price of $134.33.

Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the acquisition, the director now directly owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.98% of the company’s stock.

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.