Erste Asset Management GmbH Purchases Shares of 19,889 Global Payments Inc. (NYSE:GPN)

Erste Asset Management GmbH acquired a new stake in Global Payments Inc. (NYSE:GPN - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 19,889 shares of the business services provider's stock, valued at approximately $2,009,000.

A number of other institutional investors also recently made changes to their positions in the business. Cromwell Holdings LLC purchased a new position in shares of Global Payments in the third quarter worth $25,000. POM Investment Strategies LLC bought a new stake in Global Payments in the second quarter valued at $32,000. Capital Performance Advisors LLP purchased a new position in Global Payments during the 3rd quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. increased its position in Global Payments by 59.6% during 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 purchasing an additional 143 shares during the period. Finally, Quarry LP raised 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 purchasing an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Trading Down 1.2 %

Global Payments stock traded down $1.41 during trading hours on Wednesday, hitting $116.84. The company had a trading volume of 1,589,260 shares, compared to its average volume of 2,272,213. 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 firm has a market cap of $29.74 billion, a P/E ratio of 22.00, a P/E/G ratio of 0.91 and a beta of 1.00. The company has a 50-day moving average price of $107.40 and a two-hundred day moving average price of $103.98. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 13th. Global Payments's dividend payout ratio (DPR) is 18.83%.

Analyst Ratings Changes

Several equities analysts recently issued reports on GPN shares. Stephens reduced their price target on shares of Global Payments from $130.00 to $125.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. JPMorgan Chase & Co. decreased their target price on Global Payments from $118.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group raised their target price on Global Payments from $135.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday. Morgan Stanley reduced their price target on Global Payments from $164.00 to $156.00 and set an "overweight" rating for the company in a research report on Wednesday, September 25th. Finally, Oppenheimer began coverage on Global Payments in a research report on Tuesday, October 1st. They issued a "market perform" rating on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $137.41.

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.