Summit Trail Advisors LLC Has $373,000 Stock Holdings in Global Payments Inc. (NYSE:GPN)

Summit Trail Advisors LLC lowered its stake in Global Payments Inc. (NYSE:GPN) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,934 shares of the business services provider’s stock after selling 178 shares during the period. Summit Trail Advisors LLC’s holdings in Global Payments were worth $373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GPN. FMR LLC grew its holdings in shares of Global Payments by 40.7% during the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock worth $1,078,525,000 after purchasing an additional 2,703,434 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Global Payments by 338.3% during the third quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock valued at $379,416,000 after acquiring an additional 2,537,941 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in Global Payments during the 3rd quarter worth about $197,875,000. Boston Partners raised its position in shares of Global Payments by 40.5% in the 3rd quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock worth $591,613,000 after acquiring an additional 1,481,714 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its stake in shares of Global Payments by 119.0% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,085,772 shares of the business services provider’s stock valued at $125,287,000 after purchasing an additional 590,000 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

GPN stock opened at $110.01 on Wednesday. The firm has a 50 day simple moving average of $126.61 and a two-hundred day simple moving average of $124.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $28.08 billion, a PE ratio of 22.00, a P/E/G ratio of 0.72 and a beta of 0.97. Global Payments Inc. has a one year low of $95.12 and a one year high of $141.77.

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

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 0.91%. Global Payments’s payout ratio is currently 19.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GPN shares. Barclays lowered their target price on Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. StockNews.com lowered shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. UBS Group increased their price objective on shares of Global Payments from $130.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Monness Crespi & Hardt dropped their price target on Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, Morgan Stanley upped their target price on Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.00.

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.