Wellington Management Group LLP Has $989.22 Million Position in Global Payments Inc. (NYSE:GPN)

Wellington Management Group LLP lessened its position in Global Payments Inc. (NYSE:GPN) by 30.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,789,155 shares of the business services provider’s stock after selling 3,356,987 shares during the quarter. Wellington Management Group LLP owned approximately 3.02% of Global Payments worth $989,223,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fulton Bank N.A. increased its position in shares of Global Payments by 1.7% in the fourth quarter. Fulton Bank N.A. now owns 5,409 shares of the business services provider’s stock valued at $687,000 after acquiring an additional 93 shares during the last quarter. Wedmont Private Capital increased its position in shares of Global Payments by 0.7% during the 4th quarter. Wedmont Private Capital now owns 13,740 shares of the business services provider’s stock worth $1,828,000 after purchasing an additional 98 shares during the last quarter. KB Financial Partners LLC raised its stake in shares of Global Payments by 2.9% during the 3rd quarter. KB Financial Partners LLC now owns 4,069 shares of the business services provider’s stock worth $470,000 after purchasing an additional 113 shares in the last quarter. Procyon Advisors LLC boosted its holdings in shares of Global Payments by 0.6% in the 4th quarter. Procyon Advisors LLC now owns 19,439 shares of the business services provider’s stock valued at $2,469,000 after buying an additional 115 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Global Payments by 29.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 526 shares of the business services provider’s stock valued at $67,000 after buying an additional 119 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GPN. Susquehanna lowered their price objective on shares of Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a research note on Thursday, May 2nd. Morgan Stanley raised their price objective on Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Monness Crespi & Hardt decreased their target price on Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Mizuho dropped their price target on Global Payments from $129.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 15th. Finally, BMO Capital Markets reduced their price objective on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

Global Payments Trading Up 0.8 %

Shares of NYSE:GPN traded up $0.78 during midday trading on Friday, hitting $94.17. 2,543,227 shares of the stock were exchanged, compared to its average volume of 2,387,339. The business’s 50-day moving average price is $111.04 and its 200 day moving average price is $123.32. Global Payments Inc. has a 12 month low of $92.45 and a 12 month high of $141.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $24.04 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 0.60 and a beta of 0.98.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, topping the consensus estimate of $2.41 by $0.07. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. Analysts predict that Global Payments Inc. will post 11.08 earnings per share for the current year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Global Payments’s payout ratio is 19.84%.

Insider Transactions at Global Payments

In other news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total value of $367,422.00. Following the transaction, the vice president now owns 25,209 shares in the company, valued at approximately $2,806,770.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is owned by corporate insiders.

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.