Global Payments Inc. (NYSE:GPN) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC trimmed its position in Global Payments Inc. (NYSE:GPN) by 22.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,195 shares of the business services provider’s stock after selling 4,863 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Global Payments were worth $1,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC purchased a new stake in Global Payments during the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Global Payments in the 4th quarter valued at $37,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Global Payments during the 4th quarter worth about $38,000. Manchester Capital Management LLC lifted its position in Global Payments by 177.5% in the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Global Payments by 374.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider’s stock valued at $64,000 after buying an additional 449 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Stock Up 5.8 %

Shares of NYSE:GPN opened at $71.39 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. Global Payments Inc. has a one year low of $65.93 and a one year high of $127.66. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 0.86 and a beta of 0.97. The company has a 50 day moving average of $94.01 and a 200-day moving average of $104.52.

Global Payments (NYSE:GPN) last posted its quarterly earnings data 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). The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. On average, sell-side analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.40%. Global Payments’s payout ratio is presently 16.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GPN shares. Evercore ISI assumed coverage on shares of Global Payments in a report on Wednesday, April 9th. They issued an “in-line” rating and a $85.00 target price on the stock. Jefferies Financial Group cut Global Payments from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Friday, April 18th. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. TD Cowen downgraded shares of Global Payments from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a research report on Monday. Finally, Williams Trading set a $75.00 target price on shares of Global Payments in a research report on Friday, April 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $117.36.

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.