KLP Kapitalforvaltning AS Takes Position in Global Payments Inc. (NYSE:GPN)

KLP Kapitalforvaltning AS purchased a new position in shares of Global Payments Inc. (NYSE:GPN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 94,837 shares of the business services provider’s stock, valued at approximately $10,627,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in Global Payments by 5.3% in the third quarter. Thrivent Financial for Lutherans now owns 36,436 shares of the business services provider’s stock valued at $3,732,000 after purchasing an additional 1,838 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Global Payments by 1.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 44,610 shares of the business services provider’s stock worth $4,569,000 after buying an additional 846 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Global Payments by 62.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 88,517 shares of the business services provider’s stock valued at $9,066,000 after acquiring an additional 33,896 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Global Payments by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider’s stock valued at $157,885,000 after acquiring an additional 44,296 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Global Payments by 26.7% during the third quarter. Cerity Partners LLC now owns 23,136 shares of the business services provider’s stock worth $2,370,000 after acquiring an additional 4,874 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Stock Performance

Global Payments stock opened at $99.13 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. Global Payments Inc. has a 12 month low of $90.99 and a 12 month high of $136.36. The company has a market cap of $24.37 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04. The stock’s 50-day moving average is $104.49 and its 200-day moving average is $107.61.

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

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given 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 yield of 1.01%. Global Payments’s dividend payout ratio (DPR) is 16.18%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target 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. Barclays lowered their target price on Global Payments from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Citigroup cut their price target on Global Payments from $138.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Stephens downgraded shares of Global Payments from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $125.00 to $120.00 in a research note on Friday, January 10th. 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 company’s stock. Based on data from MarketBeat.com, Global Payments has an average rating of “Moderate Buy” and an average target price of $134.33.

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.