1834 Investment Advisors Co. Acquires 267 Shares of Global Payments Inc. (NYSE:GPN)

1834 Investment Advisors Co. grew its stake in shares of Global Payments Inc. (NYSE:GPN) by 8.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,267 shares of the business services provider’s stock after purchasing an additional 267 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Global Payments were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GPN. Cromwell Holdings LLC acquired a new stake in Global Payments during the third quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in Global Payments during the first quarter worth approximately $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments in the first quarter valued at approximately $32,000. POM Investment Strategies LLC acquired a new stake in shares of Global Payments in the second quarter valued at approximately $32,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position 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 buying an additional 143 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Price Performance

Shares of NYSE GPN opened at $115.04 on Thursday. The firm’s 50-day moving average price is $104.58 and its 200-day moving average price is $103.83. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The firm has a market capitalization of $29.28 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.80 and a beta of 0.97. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a net margin of 13.61% and a return on equity of 11.94%. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the business posted $2.48 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Global Payments Inc. will post 11.04 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.87%. Global Payments’s dividend payout ratio is presently 18.83%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GPN shares. Monness Crespi & Hardt dropped their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Barclays lowered their price objective on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Sanford C. Bernstein downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $135.00 to $112.00 in a research report on Tuesday, October 22nd. BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley lowered their price objective on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $136.50.

Global Payments Company Profile

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.