Los Angeles Capital Management LLC increased its position in Global Payments Inc. (NYSE:GPN - Free Report) by 96.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,192 shares of the business services provider's stock after purchasing an additional 12,395 shares during the quarter. Los Angeles Capital Management LLC's holdings in Global Payments were worth $2,580,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cromwell Holdings LLC bought a new position in shares of Global Payments during the third quarter valued at $25,000. New Covenant Trust Company N.A. bought a new position in shares of Global Payments during the first quarter valued at $31,000. LRI Investments LLC bought a new position in shares of Global Payments during the first quarter valued at $32,000. POM Investment Strategies LLC bought a new position in shares of Global Payments during the second quarter valued at $32,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Global Payments during the third quarter valued at $33,000. 89.76% of the stock is owned by institutional investors.
Global Payments Price Performance
Shares of NYSE:GPN traded down $0.29 during trading on Wednesday, reaching $116.07. 2,033,387 shares of the company traded hands, compared to its average volume of 2,300,877. The company's 50 day moving average is $104.82 and its two-hundred day moving average is $103.34. The firm has a market capitalization of $29.54 billion, a PE ratio of 21.86, 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 Inc. has a 52 week low of $91.60 and a 52 week high of $141.77.
Global Payments Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. Global Payments's dividend payout ratio is currently 18.83%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Stephens lowered their target price on Global Payments from $130.00 to $125.00 and set an "overweight" rating for the company in a research note on Friday, October 18th. Jefferies Financial Group lowered their target price 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. KeyCorp lowered their target price 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. Monness Crespi & Hardt lowered their target price on Global Payments from $165.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Finally, Morgan Stanley lowered their target price on Global Payments from $164.00 to $156.00 and set an "overweight" rating for the company in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $136.50.
Read Our Latest Stock Report on GPN
Global Payments Company Profile
(
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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