Concurrent Investment Advisors LLC Lowers Position in Global Payments Inc. (NYSE:GPN)

Concurrent Investment Advisors LLC cut its stake in shares of Global Payments Inc. (NYSE:GPN) by 4.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,731 shares of the business services provider’s stock after selling 232 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Global Payments were worth $530,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC purchased a new position in shares of Global Payments in the third quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new position in shares of Global Payments in the third quarter valued at about $33,000. LRI Investments LLC lifted its position in shares of Global Payments by 94.4% in the third quarter. LRI Investments LLC now owns 517 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 251 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of Global Payments by 177.5% in the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 300 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its position in shares of Global Payments by 27.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 116 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GPN shares. Citigroup lowered their price objective on Global Payments from $138.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Barclays decreased their target price on Global Payments from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Bank of America decreased their target price on Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. 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 report on Friday, February 14th. Finally, JPMorgan Chase & Co. decreased their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.33.

Global Payments Trading Up 0.6 %

GPN opened at $103.83 on Tuesday. The stock has a market cap of $25.71 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 0.86 and a beta of 1.01. The stock’s 50 day moving average price is $109.74 and its 200-day moving average price is $109.00. Global Payments Inc. has a one year low of $91.60 and a one year high of $140.38. 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 released its earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). The business 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%. On average, equities analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. Global Payments’s dividend payout ratio is 16.18%.

Global Payments 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.