Pictet Asset Management Holding SA Has $147.36 Million Holdings in Global Payments Inc. (NYSE:GPN)

Pictet Asset Management Holding SA trimmed its position in Global Payments Inc. (NYSE:GPN) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,315,030 shares of the business services provider’s stock after selling 354,520 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Global Payments were worth $147,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC acquired a new position in shares of Global Payments in the 3rd quarter valued at $25,000. Whipplewood Advisors LLC acquired a new position in Global Payments in the fourth quarter worth about $37,000. Quintet Private Bank Europe S.A. bought a new position in Global Payments during the fourth quarter worth about $38,000. Manchester Capital Management LLC lifted its stake in Global Payments by 177.5% during the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider’s stock worth $53,000 after purchasing an additional 300 shares during the period. Finally, LRI Investments LLC boosted its holdings in Global Payments by 94.4% during the third quarter. LRI Investments LLC now owns 517 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 251 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Down 1.9 %

Shares of NYSE GPN opened at $97.55 on Friday. Global Payments Inc. has a 1 year low of $90.99 and a 1 year high of $133.63. The firm’s 50-day moving average is $103.72 and its 200-day moving average is $107.35. 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 market capitalization of $23.99 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04.

Global Payments (NYSE:GPN) last announced its quarterly earnings data 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 business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Equities analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. Global Payments’s dividend payout ratio (DPR) is presently 16.18%.

Analysts Set New Price Targets

Several research firms recently commented on GPN. Bank of America cut their target price on Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Citigroup cut their price objective on Global Payments from $138.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Morgan Stanley lowered their target price on shares of Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Stephens cut shares of Global Payments from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $125.00 to $120.00 in a research report on Friday, January 10th. Finally, 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus price target 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.