Teachers Retirement System of The State of Kentucky lessened its position in shares of Global Payments Inc (NYSE:GPN) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,911 shares of the business services provider’s stock after selling 9,606 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.10% of Global Payments worth $15,528,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Global Payments during the 4th quarter valued at approximately $120,000. Tower Research Capital LLC TRC grew its holdings in Global Payments by 2,412.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock valued at $166,000 after buying an additional 1,592 shares in the last quarter. Quantbot Technologies LP purchased a new position in Global Payments during the 3rd quarter valued at approximately $198,000. Klingenstein Fields & Co. LLC purchased a new position in Global Payments during the 4th quarter valued at approximately $204,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Global Payments in the 3rd quarter valued at approximately $209,000. Institutional investors and hedge funds own 96.68% of the company’s stock.
Shares of Global Payments Inc (NYSE:GPN) opened at $117.25 on Wednesday. Global Payments Inc has a one year low of $76.47 and a one year high of $118.30. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $18,759.23, a P/E ratio of 39.35, a P/E/G ratio of 1.54 and a beta of 1.09.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders 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 yield of 0.03%. The ex-dividend date of this dividend is Thursday, March 15th. Global Payments’s dividend payout ratio (DPR) is presently 1.34%.
Global Payments announced that its Board of Directors has authorized a share buyback plan on Thursday, February 15th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
GPN has been the subject of several analyst reports. Stephens raised Global Payments from an “equal weight” rating to an “overweight” rating and set a $122.00 price objective for the company in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $122.00 price objective on shares of Global Payments in a research note on Friday, December 22nd. Robert W. Baird reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Global Payments in a research note on Tuesday, January 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Global Payments in a research note on Friday, February 16th. Finally, SunTrust Banks raised their price objective on Global Payments to $145.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Two 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 company. The company presently has a consensus rating of “Buy” and a consensus price target of $109.40.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction on Monday, December 18th. The stock was sold at an average price of $101.55, for a total transaction of $60,930.00. Following the completion of the sale, the director now directly owns 44,893 shares of the company’s stock, valued at approximately $4,558,884.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 3,000 shares of company stock valued at $318,660. 0.93% of the stock is currently owned by corporate insiders.
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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