Corient Private Wealth LLC Lowers Position in Global Payments Inc. (NYSE:GPN)

Corient Private Wealth LLC decreased its stake in Global Payments Inc. (NYSE:GPN) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,387 shares of the business services provider’s stock after selling 1,116 shares during the quarter. Corient Private Wealth LLC’s holdings in Global Payments were worth $2,844,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GPN. Pzena Investment Management LLC grew its stake in shares of Global Payments by 25.0% during the 4th quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider’s stock valued at $929,969,000 after acquiring an additional 1,659,984 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Global Payments by 1,559.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 548,833 shares of the business services provider’s stock valued at $61,502,000 after purchasing an additional 515,763 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Global Payments by 22.7% in the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock worth $271,090,000 after purchasing an additional 490,411 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Global Payments in the fourth quarter worth $53,700,000. Finally, Soros Fund Management LLC bought a new stake in shares of Global Payments during the 3rd quarter valued at $47,113,000. Institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Citigroup dropped their price objective on Global Payments from $138.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Morgan Stanley decreased their target price on Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Bank of America dropped their price target on 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, The Goldman Sachs Group reiterated a “neutral” rating and set a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.33.

Global Payments Price Performance

Shares of Global Payments stock opened at $97.03 on Monday. The stock has a 50 day moving average price of $104.65 and a 200-day moving average price of $107.68. Global Payments Inc. has a one year low of $90.99 and a one year high of $136.36. The stock has a market cap of $23.86 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. Equities analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, March 14th. Global Payments’s dividend payout ratio (DPR) is currently 16.18%.

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.