KBC Group NV Has $6.53 Million Stock Position in Global Payments Inc. (NYSE:GPN)

KBC Group NV reduced its position in Global Payments Inc. (NYSE:GPN - Free Report) by 84.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,725 shares of the business services provider's stock after selling 344,820 shares during the period. KBC Group NV's holdings in Global Payments were worth $6,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cromwell Holdings LLC bought a new stake in Global Payments during the third quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new position in shares of Global Payments in the 1st quarter valued at $31,000. LRI Investments LLC acquired a new stake in Global Payments during the 1st quarter worth about $32,000. POM Investment Strategies LLC acquired a new stake in Global Payments during the 2nd quarter worth about $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in Global Payments during the 3rd quarter worth about $33,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Trading Up 0.1 %

Shares of NYSE:GPN traded up $0.06 during mid-day trading on Monday, reaching $116.06. The stock had a trading volume of 973,339 shares, compared to its average volume of 2,288,533. The firm has a market cap of $29.54 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The firm has a 50 day simple moving average of $105.25 and a two-hundred day simple moving average of $103.28. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date of this dividend 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 18.83%.

Wall Street Analysts Forecast Growth

GPN has been the topic of a number of research reports. TD Cowen decreased their price target on shares of Global Payments from $125.00 to $122.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Monness Crespi & Hardt dropped their target price on shares of Global Payments from $165.00 to $155.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Global Payments from $118.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, October 29th. KeyCorp decreased their price objective on shares of Global Payments from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Wednesday, September 25th. Finally, Susquehanna reissued a "positive" rating and issued a $147.00 price target on shares of Global Payments in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Global Payments presently has a consensus rating of "Moderate Buy" and an average price target of $136.50.

About Global Payments

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.