Cibc World Markets Corp Sells 9,169 Shares of Global Payments Inc. (NYSE:GPN)

Cibc World Markets Corp lowered its stake in shares of Global Payments Inc. (NYSE:GPN) by 18.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,176 shares of the business services provider’s stock after selling 9,169 shares during the period. Cibc World Markets Corp’s holdings in Global Payments were worth $4,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. raised its position in shares of Global Payments by 1.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider’s stock valued at $1,228,000 after buying an additional 117 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Global Payments by 3.3% during the fourth quarter. Natixis Advisors LLC now owns 234,940 shares of the business services provider’s stock valued at $26,327,000 after buying an additional 7,456 shares during the last quarter. Integras Partners LLC bought a new stake in shares of Global Payments during the fourth quarter valued at approximately $312,000. Commonwealth Equity Services LLC increased its position in Global Payments by 255.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 37,909 shares of the business services provider’s stock worth $4,248,000 after purchasing an additional 27,252 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Global Payments by 148.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 49,700 shares of the business services provider’s stock worth $5,508,000 after purchasing an additional 29,700 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Global Payments from $138.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays reduced their price target on shares of Global Payments from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley reduced their price target on shares of 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, Keefe, Bruyette & Woods boosted their price objective on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.33.

Global Payments Stock Up 2.3 %

Shares of GPN opened at $98.09 on Thursday. The firm has a market capitalization of $24.12 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.86 and a beta of 1.04. Global Payments Inc. has a 12-month low of $90.99 and a 12-month high of $136.36. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $105.10 and a 200-day moving average price of $107.88.

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

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, March 14th. Global Payments’s dividend payout ratio (DPR) is presently 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.