Geneva Capital Management LLC Acquires 11,138 Shares of Global Payments Inc. (NYSE:GPN)

Geneva Capital Management LLC lifted its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,585 shares of the business services provider's stock after purchasing an additional 11,138 shares during the quarter. Geneva Capital Management LLC owned about 0.06% of Global Payments worth $14,706,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in Global Payments in the first quarter worth about $31,000. LRI Investments LLC bought a new stake in Global Payments in the first quarter worth about $32,000. Cromwell Holdings LLC bought a new stake in Global Payments in the third quarter worth about $25,000. Capital Performance Advisors LLP bought a new stake in Global Payments in the third quarter worth about $33,000. Finally, POM Investment Strategies LLC bought a new stake in Global Payments in the second quarter worth about $32,000. 89.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on GPN. Susquehanna restated a "positive" rating and set a $147.00 price objective on shares of Global Payments in a report on Tuesday, September 17th. BTIG Research downgraded Global Payments from a "buy" rating to a "neutral" rating in a report on Wednesday, September 25th. TD Cowen cut their price objective on Global Payments from $125.00 to $122.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. BMO Capital Markets cut their price objective on Global Payments from $126.00 to $122.00 and set a "market perform" rating on the stock in a report on Wednesday, September 25th. Finally, StockNews.com raised Global Payments from a "hold" rating to a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Global Payments has an average rating of "Moderate Buy" and an average target price of $136.50.

Global Payments Price Performance

NYSE:GPN traded up $0.60 during trading hours on Wednesday, reaching $116.96. The company had a trading volume of 939,910 shares, compared to its average volume of 2,295,901. The stock has a 50-day moving average of $104.82 and a two-hundred day moving average of $103.34. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The firm has a market capitalization of $29.77 billion, a PE ratio of 22.12, a PEG ratio of 0.89 and a beta of 0.97. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

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 0.85%. The ex-dividend date is Friday, December 13th. Global Payments's dividend payout ratio (DPR) is 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.