CIBC Asset Management Inc Buys 8,320 Shares of Global Payments Inc. (NYSE:GPN)

CIBC Asset Management Inc lifted its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 19.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,848 shares of the business services provider's stock after purchasing an additional 8,320 shares during the period. CIBC Asset Management Inc's holdings in Global Payments were worth $5,208,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cromwell Holdings LLC bought a new stake in shares of Global Payments in the 3rd quarter valued at $25,000. New Covenant Trust Company N.A. acquired a new stake in Global Payments in the first quarter valued at approximately $31,000. LRI Investments LLC bought a new position in shares of Global Payments in the 1st quarter worth $32,000. POM Investment Strategies LLC acquired a new stake in Global Payments in the 2nd quarter valued at $32,000. Finally, Capital Performance Advisors LLP bought a new stake in Global Payments during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Global Payments Price Performance

Shares of Global Payments stock traded up $0.06 during trading on Monday, hitting $116.06. The stock had a trading volume of 1,428,428 shares, compared to its average volume of 2,290,980. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 0.89 and a beta of 0.97. The business's 50-day moving average is $105.25 and its 200 day moving average is $103.28.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 annualized dividend and a dividend yield of 0.86%. Global Payments's payout ratio is currently 18.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GPN shares. TD Cowen reduced their price objective 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. BMO Capital Markets lowered their price objective on Global Payments from $126.00 to $122.00 and set a "market perform" rating for the company in a research note on Wednesday, September 25th. Jefferies Financial Group decreased their price target on Global Payments from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. B. Riley reduced their target price on shares of Global Payments from $204.00 to $194.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Finally, KeyCorp dropped their price target 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.50.

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.