Citigroup Inc. cut its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 51.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,026 shares of the business services provider's stock after selling 207,764 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Global Payments worth $19,872,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Allen Mooney & Barnes Investment Advisors LLC lifted its position in shares of Global Payments by 1.2% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider's stock valued at $841,000 after buying an additional 98 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in shares of Global Payments by 27.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider's stock valued at $56,000 after buying an additional 116 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of Global Payments by 1.4% during the third quarter. Metis Global Partners LLC now owns 8,257 shares of the business services provider's stock valued at $846,000 after acquiring an additional 116 shares in the last quarter. Archford Capital Strategies LLC increased its holdings in shares of Global Payments by 1.2% during the second quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider's stock valued at $1,121,000 after acquiring an additional 137 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of 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 valued at $39,000 after acquiring an additional 143 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. B. Riley cut their price objective on shares of Global Payments from $204.00 to $194.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Oppenheimer assumed coverage on shares of Global Payments in a report on Tuesday, October 1st. They set a "market perform" rating on the stock. Royal Bank of Canada cut their price objective on shares of Global Payments from $143.00 to $130.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. cut their price objective on shares of Global Payments from $118.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, October 29th. Finally, KeyCorp cut their price objective on shares of Global Payments from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Global Payments currently has a consensus rating of "Moderate Buy" and an average target price of $136.57.
Get Our Latest Research Report on GPN
Global Payments Price Performance
Shares of NYSE:GPN traded up $1.90 during midday trading on Wednesday, reaching $119.36. 2,782,206 shares of the company's stock traded hands, compared to its average volume of 2,283,959. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The company has a market cap of $30.38 billion, a P/E ratio of 22.48, a PEG ratio of 0.91 and a beta of 0.97. 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 fifty day simple moving average of $106.28 and a two-hundred day simple moving average of $103.67.
Global Payments Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. Global Payments's dividend payout ratio (DPR) is 18.83%.
Global Payments Profile
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Free Report)
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.
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