Oppenheimer & Co. Inc. trimmed its position in shares of Global Payments Inc (NYSE:GPN) by 9.1% in the 4th quarter, HoldingsChannel reports. The firm owned 11,884 shares of the business services provider’s stock after selling 1,187 shares during the period. Oppenheimer & Co. Inc.’s holdings in Global Payments were worth $1,192,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Global Payments during the fourth quarter worth approximately $120,000. Klingenstein Fields & Co. LLC acquired a new position in Global Payments during the fourth quarter worth $204,000. Quantbot Technologies LP acquired a new position in Global Payments during the third quarter worth $198,000. Campbell & CO Investment Adviser LLC acquired a new position in Global Payments during the third quarter worth $209,000. Finally, Eagle Asset Management Inc. acquired a new position in Global Payments during the third quarter worth $213,000. Hedge funds and other institutional investors own 98.53% of the company’s stock.
Global Payments Inc (NYSE GPN) opened at $114.35 on Friday. Global Payments Inc has a 12 month low of $76.47 and a 12 month high of $114.86. The company has a market capitalization of $18,197.89, a price-to-earnings ratio of 38.37, a PEG ratio of 1.70 and a beta of 1.14. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 1.15.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Global Payments’s dividend payout ratio is presently 1.34%.
Global Payments announced that its board has initiated a stock buyback plan on Thursday, February 15th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
A number of research firms have weighed in on GPN. KeyCorp reissued a “buy” rating and set a $110.00 price objective on shares of Global Payments in a research note on Friday, October 27th. Deutsche Bank boosted their price objective on Global Payments and gave the stock a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods reissued a “buy” rating and set a $122.00 price objective on shares of Global Payments in a research note on Friday, December 22nd. SunTrust Banks reissued a “buy” rating and set a $120.00 price objective on shares of Global Payments in a research note on Friday, November 10th. Finally, Citigroup reissued a “buy” rating and set a $116.00 price objective (up previously from $107.00) on shares of Global Payments in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $107.69.
In related news, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $100.43, for a total value of $60,258.00. Following the sale, the director now owns 38,275 shares in the company, valued at approximately $3,843,958.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 3,600 shares of company stock worth $370,602 in the last quarter. Company insiders own 0.93% of the company’s stock.
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Global Payments Profile
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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