Virtu Financial LLC Sells 2,995 Shares of Global Payments Inc. (NYSE:GPN)

Virtu Financial LLC reduced its position in shares of Global Payments Inc. (NYSE:GPN) by 40.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,335 shares of the business services provider’s stock after selling 2,995 shares during the period. Virtu Financial LLC’s holdings in Global Payments were worth $551,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GPN. Norges Bank bought a new position in Global Payments during the 4th quarter valued at about $365,933,000. Ameriprise Financial Inc. lifted its holdings in Global Payments by 338.3% in the third quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock valued at $379,416,000 after buying an additional 2,537,941 shares during the period. Alkeon Capital Management LLC lifted its holdings in Global Payments by 119.0% in the third quarter. Alkeon Capital Management LLC now owns 1,085,772 shares of the business services provider’s stock valued at $125,287,000 after buying an additional 590,000 shares during the period. Kodai Capital Management LP acquired a new position in Global Payments in the fourth quarter valued at approximately $69,029,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Global Payments in the fourth quarter valued at approximately $68,677,000. 89.76% of the stock is owned by institutional investors.

Insider Activity at Global Payments

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is currently owned by insiders.

Global Payments Price Performance

Shares of Global Payments stock opened at $93.89 on Tuesday. Global Payments Inc. has a twelve month low of $91.97 and a twelve month high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $110.36 and a two-hundred day simple moving average of $123.16. The stock has a market capitalization of $23.97 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 0.60 and a beta of 0.98.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, beating the consensus estimate of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.17 billion. Analysts forecast that Global Payments Inc. will post 11.08 EPS for the current year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GPN shares. Citigroup cut their target price on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. StockNews.com downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Susquehanna lowered their price objective on shares of Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a research report on Thursday, May 2nd. Mizuho decreased their target price on shares of Global Payments from $129.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, May 15th. Finally, BMO Capital Markets decreased their target price on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

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.