Chesapeake Capital Corp IL Invests $774,000 in Global Payments Inc. (NYSE:GPN)

Chesapeake Capital Corp IL acquired a new stake in Global Payments Inc. (NYSE:GPN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,093 shares of the business services provider’s stock, valued at approximately $774,000.

Other hedge funds also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP lifted its stake in shares of Global Payments by 7.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 866,920 shares of the business services provider’s stock valued at $110,099,000 after purchasing an additional 57,110 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Global Payments by 2.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 68,639 shares of the business services provider’s stock valued at $8,717,000 after buying an additional 1,807 shares during the last quarter. Advisory Services Network LLC boosted its stake in Global Payments by 73.9% during the fourth quarter. Advisory Services Network LLC now owns 5,924 shares of the business services provider’s stock worth $752,000 after buying an additional 2,517 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Global Payments by 6.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 10,634 shares of the business services provider’s stock valued at $1,415,000 after acquiring an additional 621 shares during the last quarter. Finally, Team Hewins LLC acquired a new stake in shares of Global Payments during the fourth quarter valued at about $410,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Stock Down 0.5 %

GPN traded down $0.48 on Friday, reaching $102.76. The company’s stock had a trading volume of 2,870,647 shares, compared to its average volume of 2,716,892. The company has a market capitalization of $26.23 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 0.66 and a beta of 0.97. Global Payments Inc. has a fifty-two week low of $95.12 and a fifty-two week high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $120.84 and a two-hundred day moving average of $124.79.

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

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio is currently 19.84%.

Insider Activity

In other news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction 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 directly owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. B. Riley lifted their price objective on Global Payments from $180.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Morgan Stanley increased their target price on Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Robert W. Baird dropped their target price on Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Finally, KeyCorp cut their price target on shares of Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.11.

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.