Reinhart Partners LLC. Has $9.85 Million Stake in Global Payments Inc. (NYSE:GPN)

Reinhart Partners LLC. decreased its position in Global Payments Inc. (NYSE:GPN) by 18.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 87,937 shares of the business services provider’s stock after selling 19,831 shares during the quarter. Reinhart Partners LLC.’s holdings in Global Payments were worth $9,854,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GPN. Cromwell Holdings LLC bought a new stake in shares of Global Payments in the 3rd quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Global Payments in the 3rd quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new stake in Global Payments during the third quarter worth approximately $33,000. Whittier Trust Co. of Nevada Inc. boosted its position in Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after purchasing an additional 143 shares during the period. Finally, Quarry LP boosted its position in Global Payments by 134.4% during the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after purchasing an additional 293 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Up 0.7 %

Shares of GPN traded up $0.71 on Monday, hitting $106.42. The company’s stock had a trading volume of 1,294,398 shares, compared to its average volume of 1,265,824. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $114.19 and its 200-day moving average price is $106.79. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The firm has a market capitalization of $27.08 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 0.88 and a beta of 1.00.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, December 13th. Global Payments’s payout ratio is 18.83%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Cowen decreased their target price on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Susquehanna restated a “positive” rating and issued a $147.00 price objective on shares of Global Payments in a research note on Tuesday, September 17th. Oppenheimer started coverage on shares of Global Payments in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. BTIG Research downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Finally, 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 research note on Friday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $135.71.

Insider Buying and Selling at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the purchase, the director now directly owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.98% of the company’s stock.

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.