Fmr LLC Cuts Stock Holdings in Global Payments Inc. (NYSE:GPN)

FMR LLC trimmed its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 46.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,383,743 shares of the business services provider's stock after selling 3,862,982 shares during the period. FMR LLC owned 1.72% of Global Payments worth $448,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its stake in shares of Global Payments by 3.4% during the 3rd quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider's stock worth $679,952,000 after buying an additional 215,399 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position 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 acquiring an additional 785,539 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Global Payments by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider's stock worth $189,307,000 after acquiring an additional 193,137 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Global Payments by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider's stock valued at $157,885,000 after purchasing an additional 44,296 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Global Payments by 31.4% in the third quarter. Bank of Montreal Can now owns 1,342,370 shares of the business services provider's stock valued at $135,606,000 after purchasing an additional 320,985 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Down 0.4 %

Shares of NYSE:GPN traded down $0.42 during trading on Friday, reaching $118.96. 868,688 shares of the stock traded hands, compared to its average volume of 2,277,833. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The stock has a market cap of $30.27 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The stock has a 50-day moving average of $106.57 and a two-hundred day moving average of $103.84.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments's payout ratio is 18.83%.

Analysts Set New Price Targets

Several research firms recently issued reports on GPN. Jefferies Financial Group reduced their price target on Global Payments from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. William Blair cut shares of Global Payments from an "outperform" rating to a "market perform" rating in a research report on Wednesday, September 25th. Royal Bank of Canada lowered their price target on shares of Global Payments from $143.00 to $130.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. BMO Capital Markets decreased their target price on shares of Global Payments from $126.00 to $122.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 25th. Finally, TD Cowen dropped their price target on shares of Global Payments from $125.00 to $122.00 and set a "buy" rating for the company in a research 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.57.

About Global Payments

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.