Malaga Cove Capital LLC Has $1.31 Million Position in Global Payments Inc. (NYSE:GPN)

Malaga Cove Capital LLC lessened its holdings in Global Payments Inc. (NYSE:GPN) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,348 shares of the business services provider’s stock after selling 1,634 shares during the period. Malaga Cove Capital LLC’s holdings in Global Payments were worth $1,314,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BluePath Capital Management LLC acquired a new stake in shares of Global Payments during the 3rd quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Global Payments in the 4th quarter valued at $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Global Payments during the 4th quarter valued at about $41,000. CVA Family Office LLC bought a new position in shares of Global Payments in the 4th quarter valued at approximately $50,000. Finally, Parkside Financial Bank & Trust boosted its position in Global Payments by 77.7% during the third quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock worth $47,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Global Payments from $130.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. TheStreet raised Global Payments from a “c” rating to a “b-” rating in a report on Thursday, February 1st. Royal Bank of Canada upped their price target on Global Payments from $154.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Wedbush raised their price objective on shares of Global Payments from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 10th. Finally, Robert W. Baird cut their target price on shares of Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.00.

Global Payments Price Performance

Shares of NYSE GPN traded up $0.83 during mid-day trading on Friday, hitting $111.37. 3,191,218 shares of the stock were exchanged, compared to its average volume of 2,029,470. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.92. The company has a market cap of $28.43 billion, a P/E ratio of 22.10, a PEG ratio of 0.72 and a beta of 0.97. The stock’s fifty day simple moving average is $127.50 and its two-hundred day simple moving average is $124.69. Global Payments Inc. has a twelve month low of $95.12 and a twelve month high of $141.77.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.01. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. During the same quarter in the prior year, the company earned $2.30 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, analysts forecast that Global Payments Inc. will post 10.95 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 yield of 0.90%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio is 19.84%.

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.