Arcadia Investment Management Corp MI Has $1.62 Million Position in Global Payments Inc. (NYSE:GPN)

Arcadia Investment Management Corp MI lifted its stake in shares of Global Payments Inc. (NYSE:GPN) by 7.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,480 shares of the business services provider’s stock after acquiring an additional 958 shares during the period. Arcadia Investment Management Corp MI’s holdings in Global Payments were worth $1,623,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Ieq Capital LLC lifted its position in shares of Global Payments by 719.8% during the 4th quarter. Ieq Capital LLC now owns 46,435 shares of the business services provider’s stock valued at $5,204,000 after acquiring an additional 40,771 shares during the period. Alberta Investment Management Corp acquired a new position in Global Payments during the fourth quarter worth $1,156,000. Atria Wealth Solutions Inc. raised its holdings in Global Payments by 27.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 9,616 shares of the business services provider’s stock worth $1,078,000 after buying an additional 2,046 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Global Payments by 455.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,958 shares of the business services provider’s stock worth $331,000 after buying an additional 2,425 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Global Payments by 3.3% during the fourth quarter. CIBC Asset Management Inc now owns 52,527 shares of the business services provider’s stock worth $5,886,000 after buying an additional 1,679 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Transactions at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $116.00 per share, with a total value of $672,800.00. Following the completion of the acquisition, the director now owns 42,738 shares in the company, valued at $4,957,608. This represents a 15.70 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America lowered their price objective on shares of Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Stephens downgraded shares of Global Payments from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $125.00 to $120.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada lowered their price objective on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.33.

Global Payments Price Performance

Shares of NYSE:GPN opened at $105.65 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $26.16 billion, a PE ratio of 17.10, a P/E/G ratio of 0.87 and a beta of 1.01. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $140.38. The company has a 50-day moving average price of $110.16 and a two-hundred day moving average price of $108.75.

Global Payments (NYSE:GPN) last announced its quarterly earnings results 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 return on equity of 12.21% and a net margin of 15.54%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Equities analysts forecast that Global Payments Inc. will post 11.9 EPS for the current year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Friday, March 14th. Global Payments’s payout ratio is 16.18%.

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.