Leeward Investments LLC MA Has $11.55 Million Stock Position in Global Payments Inc. (NYSE:GPN)

Leeward Investments LLC MA cut its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 20.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,726 shares of the business services provider's stock after selling 29,184 shares during the quarter. Leeward Investments LLC MA's holdings in Global Payments were worth $11,545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Family Asset Management LLC grew its stake in shares of Global Payments by 4.4% in the 3rd quarter. Family Asset Management LLC now owns 10,797 shares of the business services provider's stock valued at $1,106,000 after purchasing an additional 452 shares during the last quarter. Callahan Advisors LLC increased its stake in Global Payments by 2.6% during the third quarter. Callahan Advisors LLC now owns 86,298 shares of the business services provider's stock worth $8,839,000 after acquiring an additional 2,151 shares during the last quarter. 1834 Investment Advisors Co. increased its stake in Global Payments by 8.9% during the third quarter. 1834 Investment Advisors Co. now owns 3,267 shares of the business services provider's stock worth $335,000 after acquiring an additional 267 shares during the last quarter. River Road Asset Management LLC increased its stake in Global Payments by 158.6% during the third quarter. River Road Asset Management LLC now owns 491,331 shares of the business services provider's stock worth $50,322,000 after acquiring an additional 301,358 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Global Payments by 3.7% in the third quarter. Asset Management One Co. Ltd. now owns 99,993 shares of the business services provider's stock worth $10,241,000 after buying an additional 3,603 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Oppenheimer started coverage on Global Payments in a research note on Tuesday, October 1st. They set a "market perform" rating for the company. TD Cowen lowered their price target on Global Payments from $125.00 to $122.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Jefferies Financial Group lowered their price target on Global Payments from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Morgan Stanley decreased their target price on Global Payments from $164.00 to $156.00 and set an "overweight" rating on the stock in a report on Wednesday, September 25th. Finally, BNP Paribas upgraded Global Payments to a "strong sell" rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.50.

Global Payments Trading Down 2.7 %

Shares of GPN traded down $3.12 during trading hours on Thursday, reaching $111.92. The stock had a trading volume of 2,024,005 shares, compared to its average volume of 2,292,115. The firm has a 50-day moving average of $104.58 and a 200 day moving average of $103.83. The company has a market cap of $28.48 billion, a P/E ratio of 21.08, a P/E/G ratio of 0.80 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 (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.03. The company had revenue of $2.57 billion during the quarter, compared to analysts' expectations of $2.32 billion. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. Global Payments's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.48 EPS. On average, sell-side analysts expect that Global Payments Inc. will post 11.04 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, December 13th. Global Payments's payout ratio is 18.83%.

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.