Franklin Resources Inc. Sells 449,230 Shares of Global Payments Inc. (NYSE:GPN)

Franklin Resources Inc. cut its position in shares of Global Payments Inc. (NYSE:GPN) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,050,499 shares of the business services provider’s stock after selling 449,230 shares during the quarter. Franklin Resources Inc.’s holdings in Global Payments were worth $565,959,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Beaird Harris Wealth Management LLC purchased a new stake in Global Payments in the third quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new stake in shares of Global Payments in the 4th quarter worth approximately $37,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Global Payments in the 4th quarter valued at $38,000. LRI Investments LLC grew its holdings in shares of Global Payments by 94.4% during the 3rd 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 during the last quarter. Finally, Manchester Capital Management LLC raised its position in Global Payments by 177.5% in the 4th 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. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Price Performance

Shares of GPN stock opened at $98.09 on Tuesday. The business’s fifty day moving average is $103.51 and its 200 day moving average is $107.25. 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 stock has a market cap of $24.12 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 0.86 and a beta of 1.04. Global Payments Inc. has a twelve month low of $90.99 and a twelve month high of $133.63.

Global Payments (NYSE:GPN) last released its earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share 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 business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Research analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Global Payments’s payout ratio is 16.18%.

Analyst Ratings Changes

Several research firms have issued reports on GPN. Barclays cut their price target on shares of Global Payments from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Morgan Stanley dropped their target price on Global Payments from $166.00 to $163.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Bank of America decreased their price target on Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Global Payments from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.10.

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.