Ellsworth Advisors LLC Buys New Holdings in Global Payments Inc. (NYSE:GPN)

Ellsworth Advisors LLC purchased a new position in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 40,803 shares of the business services provider's stock, valued at approximately $4,572,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cromwell Holdings LLC purchased a new position in shares of Global Payments during the third quarter worth $25,000. Beaird Harris Wealth Management LLC acquired a new stake in Global Payments in the third quarter valued at approximately $25,000. Capital Performance Advisors LLP purchased a new position in shares of Global Payments during the 3rd quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. grew its stake in Global Payments by 59.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider's stock valued at $39,000 after acquiring an additional 143 shares during the period. Finally, Quarry LP increased its holdings in Global Payments by 134.4% in the 2nd quarter. Quarry LP now owns 511 shares of the business services provider's stock worth $49,000 after acquiring an additional 293 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GPN shares. KeyCorp dropped their target price on shares of Global Payments from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 25th. Stephens cut Global Payments from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $125.00 to $120.00 in a report on Friday, January 10th. Monness Crespi & Hardt decreased their target price on Global Payments from $165.00 to $155.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. The Goldman Sachs Group reiterated a "neutral" rating and set a $122.00 price target (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. Finally, TD Cowen dropped their target price on shares of Global Payments from $125.00 to $122.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $135.71.

Insider Activity at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $116.00 per share, with a total value 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 represents a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.98% of the company's stock.

Global Payments Trading Down 0.6 %

Shares of NYSE:GPN traded down $0.69 during mid-day trading on Monday, reaching $108.41. 2,574,832 shares of the company were exchanged, compared to its average volume of 1,141,367. Global Payments Inc. has a 1 year low of $91.60 and a 1 year 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 firm's 50-day simple moving average is $114.01 and its 200 day simple moving average is $107.22. The firm has a market cap of $27.59 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 0.75 and a beta of 1.00.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.25 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. Global Payments's payout ratio is presently 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.