Nomura Asset Management Co. Ltd. Increases Position in Global Payments Inc. (NYSE:GPN)

Nomura Asset Management Co. Ltd. boosted its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,386 shares of the business services provider's stock after purchasing an additional 4,692 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Global Payments were worth $7,926,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Diversified Trust Co bought a new stake in Global Payments during the second quarter valued at about $574,000. Swedbank AB increased its holdings in Global Payments by 13.4% in the 2nd quarter. Swedbank AB now owns 38,805 shares of the business services provider's stock worth $3,752,000 after acquiring an additional 4,571 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Global Payments by 470.7% during the second quarter. Assenagon Asset Management S.A. now owns 27,122 shares of the business services provider's stock valued at $2,623,000 after purchasing an additional 22,370 shares in the last quarter. Blue Trust Inc. lifted its holdings in Global Payments by 3.3% during the second quarter. Blue Trust Inc. now owns 10,752 shares of the business services provider's stock valued at $1,040,000 after purchasing an additional 341 shares in the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Global Payments by 20.6% in the second quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider's stock worth $16,723,000 after purchasing an additional 29,503 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GPN shares. KeyCorp dropped their price target on Global Payments from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Wednesday, September 25th. Morgan Stanley cut their target price on shares of Global Payments from $164.00 to $156.00 and set an "overweight" rating for the company in a research note on Wednesday, September 25th. The Goldman Sachs Group boosted their price target on shares of Global Payments from $135.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. BMO Capital Markets reduced their target price 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, Royal Bank of Canada dropped their price target on Global Payments from $143.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. One 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, Global Payments currently has a consensus rating of "Moderate Buy" and an average price target of $137.41.

Global Payments Stock Performance

Shares of GPN traded down $1.28 during trading hours on Friday, reaching $114.24. 1,156,033 shares of the company traded hands, compared to its average volume of 2,263,353. The business has a fifty day moving average price of $109.44 and a 200-day moving average price of $104.45. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $29.07 billion, a P/E ratio of 21.80, a P/E/G ratio of 0.90 and a beta of 1.00. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. Global Payments's payout ratio is currently 18.83%.

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.