Nordea Investment Management AB raised its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,949,458 shares of the business services provider's stock after acquiring an additional 349,457 shares during the quarter. Nordea Investment Management AB owned approximately 1.16% of Global Payments worth $330,516,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in GPN. Cromwell Holdings LLC purchased a new stake in shares of Global Payments in the third quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Global Payments in the third quarter valued at approximately $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Global Payments in the third quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. grew its position 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 worth $39,000 after acquiring an additional 143 shares during the period. Finally, Quarry LP grew its position in Global Payments by 134.4% in the second quarter. Quarry LP now owns 511 shares of the business services provider's stock worth $49,000 after acquiring an additional 293 shares during the period. Institutional investors and hedge funds own 89.76% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Global Payments from $130.00 to $140.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. B. Riley lowered their price target on Global Payments from $204.00 to $194.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. BMO Capital Markets lowered their price target on Global Payments from $126.00 to $122.00 and set a "market perform" rating for the company in a research report on Wednesday, September 25th. Oppenheimer started coverage on Global Payments in a research report on Tuesday, October 1st. They set a "market perform" rating for the company. Finally, JPMorgan Chase & Co. lowered their price target on Global Payments from $118.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.55.
Read Our Latest Research Report on GPN
Insider Transactions at Global Payments
In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the transaction, the director now directly owns 42,738 shares of the company's stock, valued at approximately $4,957,608. The trade was a 15.70 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.98% of the company's stock.
Global Payments Stock Performance
Shares of GPN traded up $0.43 during midday trading on Monday, reaching $113.01. 1,173,163 shares of the stock were exchanged, compared to its average volume of 1,009,835. The business's 50-day moving average price is $113.35 and its 200 day moving average price is $106.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a market capitalization of $28.76 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 0.88 and a beta of 1.00.
Global Payments Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, December 13th. Global Payments's dividend payout ratio (DPR) is currently 18.83%.
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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