BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Holdings in Global Payments Inc. (NYSE:GPN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,591 shares of the business services provider's stock after selling 6,822 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Global Payments were worth $4,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Stanley Capital Management LLC lifted its holdings in shares of Global Payments by 18.9% during the 2nd quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider's stock worth $12,146,000 after acquiring an additional 20,000 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Global Payments by 65.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider's stock worth $203,047,000 after purchasing an additional 785,539 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Global Payments in the 3rd quarter valued at $562,000. Gradient Investments LLC increased its stake in shares of Global Payments by 20.6% in the 2nd quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider's stock valued at $16,723,000 after purchasing an additional 29,503 shares during the last quarter. Finally, Poplar Forest Capital LLC acquired a new stake in shares of Global Payments in the 3rd quarter valued at approximately $13,184,000. 89.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stephens reduced their price objective on Global Payments from $130.00 to $125.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. William Blair downgraded Global Payments from an "outperform" rating to a "market perform" rating in a research note on Wednesday, September 25th. TD Cowen cut their target price on shares of Global Payments from $125.00 to $122.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Susquehanna restated a "positive" rating and issued a $147.00 price target on shares of Global Payments in a research report on Tuesday, September 17th. Finally, Oppenheimer began coverage on shares of Global Payments in a report on Tuesday, October 1st. They set a "market perform" rating on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Global Payments currently has an average rating of "Moderate Buy" and an average target price of $137.41.

Global Payments Stock Up 0.1 %

Shares of Global Payments stock traded up $0.12 during trading on Tuesday, reaching $118.25. 1,326,682 shares of the company traded hands, compared to its average volume of 2,275,144. 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 has a 50 day moving average price of $107.01 and a 200-day moving average price of $103.89. 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 $30.09 billion, a PE ratio of 22.27, a P/E/G ratio of 0.91 and a beta of 1.00.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, December 13th. Global Payments's dividend payout ratio (DPR) is presently 18.83%.

Global Payments 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.