Geneva Capital Management LLC Has $21.38 Million Position in Global Payments Inc. (NYSE:GPN)

Geneva Capital Management LLC boosted its holdings in shares of Global Payments Inc. (NYSE:GPN) by 13.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 159,951 shares of the business services provider’s stock after purchasing an additional 19,381 shares during the period. Geneva Capital Management LLC’s holdings in Global Payments were worth $21,379,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its holdings in shares of Global Payments by 18.8% during the 1st quarter. Global Retirement Partners LLC now owns 524 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 83 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Global Payments by 1.9% during the first quarter. Assenagon Asset Management S.A. now owns 4,752 shares of the business services provider’s stock valued at $635,000 after buying an additional 90 shares in the last quarter. Fulton Bank N.A. lifted 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 worth $687,000 after buying an additional 93 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of Global Payments by 5.1% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock worth $258,000 after acquiring an additional 93 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake 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 acquiring an additional 98 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays reduced their target price on Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday. KeyCorp dropped their target price on shares of Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. BMO Capital Markets cut their target price 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. Finally, Robert W. Baird lowered their price target on Global Payments from $182.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.32.

Insiders Place Their Bets

In related news, VP Andrea M. Carter sold 3,300 shares of the 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 sale, the vice president now directly 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 is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.

Global Payments Trading Up 2.1 %

GPN traded up $2.02 during mid-day trading on Thursday, reaching $96.84. The stock had a trading volume of 2,617,307 shares, compared to its average volume of 2,320,822. The firm’s fifty day simple moving average is $100.80 and its two-hundred day simple moving average is $119.80. The stock has a market capitalization of $24.72 billion, a P/E ratio of 19.22, a P/E/G ratio of 0.61 and a beta of 0.98. Global Payments Inc. has a 52 week low of $91.60 and a 52 week 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.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. On average, equities analysts predict that Global Payments Inc. will post 11.09 EPS for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. Global Payments’s payout ratio is presently 19.84%.

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.