Itau Unibanco Holding S.A. Buys New Holdings in Global Payments Inc. (NYSE:GPN)

Itau Unibanco Holding S.A. acquired a new stake in Global Payments Inc. (NYSE:GPN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,208 shares of the business services provider’s stock, valued at approximately $533,000.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers grew its position in shares of Global Payments by 531.9% in the 1st quarter. Cetera Investment Advisers now owns 24,238 shares of the business services provider’s stock worth $3,240,000 after acquiring an additional 20,402 shares in the last quarter. Cetera Advisors LLC raised its holdings in Global Payments by 34.9% in the 1st quarter. Cetera Advisors LLC now owns 4,284 shares of the business services provider’s stock valued at $573,000 after acquiring an additional 1,108 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Global Payments by 683.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,821 shares of the business services provider’s stock worth $273,000 after purchasing an additional 2,461 shares during the last quarter. Mather Group LLC. boosted its position in Global Payments by 27.2% in the 2nd quarter. Mather Group LLC. now owns 1,189 shares of the business services provider’s stock valued at $115,000 after buying an additional 254 shares during the last quarter. Finally, CWM LLC boosted its stake in Global Payments by 16.4% during the 2nd quarter. CWM LLC now owns 34,546 shares of the business services provider’s stock worth $3,341,000 after acquiring an additional 4,873 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GPN shares. Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Susquehanna restated a “positive” rating and set a $147.00 price target on shares of Global Payments in a research note on Tuesday, September 17th. Sanford C. Bernstein lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $135.00 to $112.00 in a report on Tuesday, October 22nd. Morgan Stanley lowered their price target on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.41.

Global Payments Trading Down 0.7 %

NYSE GPN opened at $118.13 on Tuesday. The company has a market capitalization of $30.06 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The company’s fifty day moving average price is $106.57 and its two-hundred day moving average price is $103.76.

Global Payments Dividend Announcement

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

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.