Synovus Financial Corp trimmed its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,568,764 shares of the business services provider's stock after selling 407,201 shares during the quarter. Global Payments makes up 9.0% of Synovus Financial Corp's investment portfolio, making the stock its largest position. Synovus Financial Corp owned approximately 2.97% of Global Payments worth $775,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of GPN. Cromwell Holdings LLC bought a new position in Global Payments during the 3rd quarter valued at approximately $25,000. POM Investment Strategies LLC purchased a new position in shares of Global Payments during the second quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in shares of Global Payments during the third quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider's stock valued at $39,000 after acquiring an additional 143 shares in the last quarter. Finally, Quarry LP increased its position in Global Payments by 134.4% during the 2nd quarter. Quarry LP now owns 511 shares of the business services provider's stock valued at $49,000 after purchasing an additional 293 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.
Global Payments Stock Performance
Shares of GPN traded down $1.12 during trading hours on Friday, hitting $114.40. The stock had a trading volume of 762,578 shares, compared to its average volume of 2,261,492. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock has a fifty day moving average price of $109.44 and a 200 day moving average price of $104.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $29.11 billion, a PE ratio of 21.80, a PEG ratio of 0.90 and a beta of 1.00.
Global Payments Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th. Global Payments's payout ratio is currently 18.83%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on GPN. BNP Paribas raised shares of Global Payments to a "strong sell" rating in a research note on Wednesday, September 4th. KeyCorp reduced their target price on shares of Global Payments from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 25th. The Goldman Sachs Group lifted their price target on shares of Global Payments from $135.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Oppenheimer began coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a "market perform" rating on the stock. Finally, TD Cowen decreased their target price on shares of Global Payments from $125.00 to $122.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $137.41.
Read Our Latest Analysis on GPN
Global Payments 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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