Shell Asset Management Co. Has $62,000 Holdings in Global Payments Inc. (NYSE:GPN)

Shell Asset Management Co. decreased its holdings in shares of Global Payments Inc. (NYSE:GPN) by 20.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 549 shares of the business services provider’s stock after selling 139 shares during the quarter. Shell Asset Management Co.’s holdings in Global Payments were worth $62,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GPN. Park Avenue Securities LLC boosted its stake in shares of Global Payments by 27.9% during the 4th quarter. Park Avenue Securities LLC now owns 7,358 shares of the business services provider’s stock worth $825,000 after buying an additional 1,604 shares during the last quarter. Merit Financial Group LLC boosted its position in Global Payments by 10.3% during the fourth quarter. Merit Financial Group LLC now owns 5,219 shares of the business services provider’s stock valued at $585,000 after purchasing an additional 489 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Global Payments in the fourth quarter valued at approximately $277,000. Ellsworth Advisors LLC acquired a new position in shares of Global Payments during the 4th quarter worth approximately $4,572,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Global Payments by 770.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,819 shares of the business services provider’s stock worth $316,000 after purchasing an additional 2,495 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GPN. Evercore ISI initiated coverage on shares of Global Payments in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $85.00 target price for the company. Williams Trading set a $75.00 price objective on shares of Global Payments in a research report on Friday, April 18th. Wells Fargo & Company dropped their target price on shares of Global Payments from $105.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. 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. Finally, Robert W. Baird lowered their price target on Global Payments from $145.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.43.

Global Payments Stock Down 1.9%

GPN stock opened at $80.77 on Tuesday. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. The stock has a market capitalization of $19.70 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 0.86 and a beta of 0.96. The business’s fifty day moving average price is $85.08 and its two-hundred day moving average price is $101.58.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.09. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the firm earned $2.59 earnings per share. Global Payments’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. Global Payments’s dividend payout ratio is presently 16.13%.

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.