Global Payments Inc. (NYSE:GPN) Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. lessened its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,937 shares of the business services provider's stock after selling 19,831 shares during the period. Reinhart Partners LLC.'s holdings in Global Payments were worth $9,854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in shares of Global Payments by 65.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider's stock valued at $203,047,000 after buying an additional 785,539 shares in the last quarter. AQR Capital Management LLC raised its position in Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider's stock worth $109,857,000 after acquiring an additional 755,898 shares during the period. Janus Henderson Group PLC lifted its holdings in Global Payments by 22.7% during the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider's stock valued at $271,090,000 after purchasing an additional 490,411 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Global Payments by 316.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider's stock worth $58,981,000 after purchasing an additional 463,568 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new stake in Global Payments during the 3rd quarter worth approximately $47,113,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Insider Activity at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the purchase, the director now owns 42,738 shares of the company's stock, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Global Payments Stock Up 1.0 %

Shares of Global Payments stock traded up $1.04 during trading on Monday, hitting $106.75. 2,294,537 shares of the stock were exchanged, compared to its average volume of 1,416,890. The stock has a market cap of $27.17 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 0.88 and a beta of 1.00. The firm's 50-day moving average price is $114.22 and its 200 day moving average price is $106.88. 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 12-month low of $91.60 and a 12-month high of $141.77.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, December 13th. Global Payments's payout ratio is 18.83%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GPN shares. Jefferies Financial Group dropped their target price on shares of Global Payments from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a report on Thursday. Barclays boosted their target price on Global Payments from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Stephens cut Global Payments from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $125.00 to $120.00 in a report on Friday. Finally, BTIG Research lowered Global Payments from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $135.71.

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.