Global Payments Inc. (NYSE:GPN) Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in Global Payments Inc. (NYSE:GPN) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,527 shares of the business services provider’s stock after purchasing an additional 1,679 shares during the period. CIBC Asset Management Inc’s holdings in Global Payments were worth $5,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPN. Cromwell Holdings LLC bought a new position in Global Payments in the 3rd quarter worth about $25,000. Beaird Harris Wealth Management LLC bought a new position in shares of Global Payments in the third quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new position in shares of Global Payments in the third quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 143 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Global Payments in the third quarter valued at approximately $50,000. Institutional investors own 89.76% of the company’s stock.

Insiders Place Their Bets

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the purchase, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley decreased their price objective 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 decreased their price objective on shares of Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Stephens cut shares of Global Payments from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $125.00 to $120.00 in a report on Friday, January 10th. Finally, Bank of America cut their target price on shares of Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.33.

Global Payments Stock Down 0.4 %

GPN stock opened at $106.59 on Thursday. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $140.38. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The company 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 two-hundred day moving average of $108.77.

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

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. Global Payments’s payout ratio is 16.18%.

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.