Oppenheimer Asset Management Inc. Grows Holdings in Global Payments Inc. (NYSE:GPN)

Oppenheimer Asset Management Inc. raised its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 114.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,570 shares of the business services provider's stock after buying an additional 35,512 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Global Payments were worth $6,818,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Geneva Capital Management LLC boosted its stake in Global Payments by 8.4% during the 3rd quarter. Geneva Capital Management LLC now owns 143,585 shares of the business services provider's stock valued at $14,706,000 after purchasing an additional 11,138 shares during the last quarter. First National Trust Co raised its position in Global Payments by 1.0% in the third quarter. First National Trust Co now owns 38,682 shares of the business services provider's stock worth $3,962,000 after acquiring an additional 393 shares during the period. Entropy Technologies LP purchased a new position in Global Payments during the third quarter valued at $562,000. Los Angeles Capital Management LLC grew its stake in shares of Global Payments by 96.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 25,192 shares of the business services provider's stock valued at $2,580,000 after acquiring an additional 12,395 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Global Payments in the third quarter worth $202,000. 89.76% of the stock is owned by institutional investors.

Global Payments Price Performance

Shares of GPN traded down $0.67 during trading hours on Friday, hitting $115.54. 978,715 shares of the stock were exchanged, compared to its average volume of 2,291,047. The stock's 50-day moving average price is $105.09 and its two-hundred day moving average price is $103.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $29.40 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77.

Global Payments Announces Dividend

The firm 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.87%. Global Payments's payout ratio is presently 18.83%.

Analyst Ratings Changes

GPN has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of Global Payments from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. B. Riley decreased their target price 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. Sanford C. Bernstein downgraded shares of Global Payments from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. BNP Paribas upgraded Global Payments to a "strong sell" rating in a research note on Wednesday, September 4th. Finally, Barclays dropped their price target on Global Payments from $145.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.