Global Payments Inc. (NYSE:GPN) Shares Purchased by Rock Point Advisors LLC

Rock Point Advisors LLC increased its stake in Global Payments Inc. (NYSE:GPNFree Report) by 10.2% during the third quarter, HoldingsChannel.com reports. The fund owned 63,197 shares of the business services provider’s stock after buying an additional 5,837 shares during the period. Global Payments makes up approximately 1.8% of Rock Point Advisors LLC’s holdings, making the stock its 22nd biggest position. Rock Point Advisors LLC’s holdings in Global Payments were worth $6,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of GPN. Pzena Investment Management LLC increased its stake in Global Payments by 3.4% in the 3rd quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock worth $679,952,000 after purchasing an additional 215,399 shares in the last quarter. Boston Partners raised its holdings in shares of Global Payments by 0.3% during the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock valued at $639,967,000 after acquiring an additional 12,196 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Global Payments by 65.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after purchasing an additional 785,539 shares during the period. Dimensional Fund Advisors LP lifted its stake in Global Payments by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock worth $189,307,000 after acquiring an additional 193,137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Global Payments by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider’s stock valued at $157,885,000 after buying an additional 44,296 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GPN has been the topic of a number of research reports. BMO Capital Markets dropped their price target on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 25th. StockNews.com lowered Global Payments from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Oppenheimer started coverage on Global Payments in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Monness Crespi & Hardt reduced their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, B. Riley dropped their price target on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.57.

Check Out Our Latest Report on Global Payments

Global Payments Stock Down 0.4 %

NYSE GPN traded down $0.49 on Tuesday, reaching $118.09. The company had a trading volume of 88,891 shares, compared to its average volume of 2,273,545. The company’s fifty day moving average is $106.01 and its 200-day moving average is $103.50. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The firm has a market capitalization of $30.05 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. Global Payments’s dividend payout ratio is 18.83%.

Global Payments Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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