Holocene Advisors LP Sells 99,099 Shares of Global Payments Inc. (NYSE:GPN)

Holocene Advisors LP cut its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 56.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,259 shares of the business services provider's stock after selling 99,099 shares during the quarter. Holocene Advisors LP's holdings in Global Payments were worth $7,913,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Atom Investors LP acquired a new stake in Global Payments during the 3rd quarter worth about $1,677,000. Erste Asset Management GmbH purchased a new stake in shares of Global Payments during the 3rd quarter worth about $2,009,000. White Knight Strategic Wealth Advisors LLC purchased a new stake in shares of Global Payments during the 3rd quarter worth about $345,000. Verition Fund Management LLC raised its stake in shares of Global Payments by 388.7% during the 3rd quarter. Verition Fund Management LLC now owns 54,692 shares of the business services provider's stock worth $5,602,000 after purchasing an additional 43,500 shares in the last quarter. Finally, Vinva Investment Management Ltd raised its stake in shares of Global Payments by 1.6% during the 3rd quarter. Vinva Investment Management Ltd now owns 12,215 shares of the business services provider's stock worth $1,234,000 after purchasing an additional 187 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Price Performance

GPN stock traded down $1.41 during trading on Wednesday, hitting $116.84. The company had a trading volume of 1,589,260 shares, compared to its average volume of 2,272,213. The company has a fifty day moving average price of $107.40 and a two-hundred day moving average price of $103.98. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market cap of $29.74 billion, a P/E ratio of 22.00, a P/E/G ratio of 0.91 and a beta of 1.00. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments's dividend payout ratio is 18.83%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GPN. Royal Bank of Canada cut 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. StockNews.com raised Global Payments from a "hold" rating to a "buy" rating in a research note on Monday. Stephens cut their price target 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. Oppenheimer started coverage on Global Payments in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Finally, The Goldman Sachs Group raised their price objective on Global Payments from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Monday. One analyst has rated the stock with a sell rating, ten have assigned 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 target price of $137.41.

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.