1ST Source Bank Sells 175 Shares of Global Payments Inc. (NYSE:GPN)

1ST Source Bank lessened its position in Global Payments Inc. (NYSE:GPN) by 4.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,700 shares of the business services provider’s stock after selling 175 shares during the period. 1ST Source Bank’s holdings in Global Payments were worth $379,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Tidal Investments LLC raised its position in Global Payments by 0.3% in the 3rd quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock worth $2,760,000 after purchasing an additional 86 shares during the period. SYM FINANCIAL Corp lifted its stake in shares of Global Payments by 4.1% during the 3rd quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock worth $250,000 after acquiring an additional 97 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its holdings in Global Payments by 1.2% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after acquiring an additional 98 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Global Payments by 27.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of Global Payments by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 8,257 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 116 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GPN shares. TD Cowen dropped their price objective on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. B. Riley dropped their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Oppenheimer started coverage on Global Payments in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, BMO Capital Markets cut their target price on 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Global Payments has an average rating of “Moderate Buy” and a consensus target price of $137.41.

Global Payments Trading Down 1.1 %

Shares of Global Payments stock opened at $114.24 on Friday. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $29.07 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 0.90 and a beta of 1.00. The firm has a 50-day simple moving average of $109.75 and a two-hundred day simple moving average of $104.53.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued 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 0.88%. Global Payments’s 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.