Versor Investments LP Sells 12,284 Shares of Global Payments Inc. (NYSE:GPN)

Versor Investments LP reduced its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 84.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,241 shares of the business services provider's stock after selling 12,284 shares during the period. Versor Investments LP's holdings in Global Payments were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC boosted its position in Global Payments by 96.9% in the third quarter. Los Angeles Capital Management LLC now owns 25,192 shares of the business services provider's stock valued at $2,580,000 after buying an additional 12,395 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of Global Payments during the 3rd quarter valued at $202,000. Legacy Capital Wealth Partners LLC grew its position in Global Payments by 17.1% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 4,223 shares of the business services provider's stock worth $433,000 after acquiring an additional 616 shares during the last quarter. Covestor Ltd increased its holdings in Global Payments by 116.6% in the 3rd quarter. Covestor Ltd now owns 1,926 shares of the business services provider's stock worth $197,000 after purchasing an additional 1,037 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its position in Global Payments by 0.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 118,183 shares of the business services provider's stock valued at $12,104,000 after purchasing an additional 655 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Down 0.2 %

NYSE:GPN traded down $0.21 on Friday, hitting $116.00. The stock had a trading volume of 1,780,744 shares, compared to its average volume of 2,558,851. 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. The business's fifty day moving average is $105.25 and its 200 day moving average is $103.32. The company has a market cap of $29.52 billion, a PE ratio of 21.85, a P/E/G ratio of 0.89 and a beta of 0.97.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued 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 0.86%. Global Payments's dividend payout ratio is presently 18.83%.

Analyst Upgrades and Downgrades

GPN has been the topic of several research reports. StockNews.com upgraded Global Payments from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. TD Cowen reduced their target price on shares of Global Payments from $125.00 to $122.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. BTIG Research downgraded shares of Global Payments from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 25th. Sanford C. Bernstein cut shares of Global Payments from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $135.00 to $112.00 in a research note on Tuesday, October 22nd. Finally, Oppenheimer began coverage on Global Payments in a research report on Tuesday, October 1st. They set a "market perform" rating for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $136.50.

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.