Point72 Asia Singapore Pte. Ltd. Sells 7,082 Shares of Global Payments Inc. (NYSE:GPN)

Point72 Asia Singapore Pte. Ltd. lessened its position in Global Payments Inc. (NYSE:GPN) by 93.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 522 shares of the business services provider’s stock after selling 7,082 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Global Payments were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. purchased a new position in Global Payments during the fourth quarter valued at $28,000. Whipplewood Advisors LLC bought a new position in shares of Global Payments in the 4th quarter worth about $37,000. Quintet Private Bank Europe S.A. purchased a new position in Global Payments during the 4th quarter valued at about $38,000. Manchester Capital Management LLC boosted its stake in Global Payments by 177.5% during the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider’s stock worth $53,000 after acquiring an additional 300 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Global Payments by 374.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider’s stock worth $64,000 after acquiring an additional 449 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GPN has been the subject of a number of analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Global Payments in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price objective on Global Payments from $115.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. KeyCorp lifted their price objective on Global Payments from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Citigroup reissued a “buy” rating on shares of Global Payments in a research note on Monday, April 21st. Finally, Jefferies Financial Group downgraded Global Payments from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Friday, April 18th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Global Payments has an average rating of “Hold” and an average price target of $112.43.

Global Payments Stock Down 0.7%

Shares of Global Payments stock opened at $82.37 on Monday. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $85.32 and its 200 day moving average is $101.74. The company has a market cap of $20.09 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96.

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

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.21%. Global Payments’s payout ratio is 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.