Caisse DE Depot ET Placement DU Quebec cut its position in shares of Global Payments Inc (NYSE:GPN) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,100 shares of the business services provider’s stock after selling 1,300 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Global Payments were worth $2,416,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. bought a new stake in Global Payments in the fourth quarter valued at $4,229,000. WINTON GROUP Ltd grew its position in Global Payments by 19.0% in the fourth quarter. WINTON GROUP Ltd now owns 3,607 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 576 shares during the period. Geode Capital Management LLC grew its position in Global Payments by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 1,620,734 shares of the business services provider’s stock valued at $162,106,000 after acquiring an additional 124,076 shares during the period. Burney Co. grew its position in Global Payments by 8.2% in the fourth quarter. Burney Co. now owns 27,471 shares of the business services provider’s stock valued at $2,754,000 after acquiring an additional 2,081 shares during the period. Finally, Amalgamated Bank grew its position in Global Payments by 10.2% in the fourth quarter. Amalgamated Bank now owns 20,155 shares of the business services provider’s stock valued at $2,020,000 after acquiring an additional 1,862 shares during the period. Hedge funds and other institutional investors own 96.68% of the company’s stock.
Shares of Global Payments Inc (NYSE:GPN) opened at $117.25 on Wednesday. The company has a market capitalization of $18,660.00, a PE ratio of 58.92, a PEG ratio of 1.53 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.15. Global Payments Inc has a 1 year low of $76.47 and a 1 year high of $118.30.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, March 15th. Global Payments’s dividend payout ratio is currently 2.01%.
Global Payments declared that its board has initiated a share buyback program on Thursday, February 15th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
GPN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $122.00 price target on shares of Global Payments in a research report on Friday, December 22nd. Zacks Investment Research cut Global Payments from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Stephens upgraded Global Payments from an “equal weight” rating to an “overweight” rating and set a $122.00 target price on the stock in a report on Tuesday, January 9th. KeyCorp increased their target price on Global Payments from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Oppenheimer increased their target price on Global Payments from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $109.40.
In other news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $103.62, for a total transaction of $62,172.00. Following the sale, the director now owns 37,675 shares of the company’s stock, valued at $3,903,883.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 3,000 shares of company stock worth $318,660. 0.93% of the stock is currently owned by insiders.
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About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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