Retireful LLC Takes $610,000 Position in Global Payments Inc. (NYSE:GPN)

Retireful LLC bought a new stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,956 shares of the business services provider's stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Stanley Capital Management LLC increased its holdings in Global Payments by 18.9% in the 2nd quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider's stock worth $12,146,000 after acquiring an additional 20,000 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Global Payments by 12.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider's stock valued at $35,775,000 after purchasing an additional 29,289 shares during the period. LRI Investments LLC purchased a new position in shares of Global Payments during the 1st quarter valued at $32,000. Entropy Technologies LP bought a new position in Global Payments in the 3rd quarter worth $562,000. Finally, Gradient Investments LLC increased its stake in Global Payments by 20.6% in the 2nd quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider's stock worth $16,723,000 after buying an additional 29,503 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Up 0.1 %

Shares of NYSE:GPN traded up $0.11 during trading hours on Wednesday, reaching $114.83. The stock had a trading volume of 1,718,141 shares, compared to its average volume of 2,292,324. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The firm's 50 day moving average is $105.48 and its 200-day moving average is $103.34. The stock has a market capitalization of $29.22 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.87%. Global Payments's dividend payout ratio (DPR) is presently 18.83%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays lowered their price target on Global Payments from $145.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, September 30th. Susquehanna restated a "positive" rating and set a $147.00 target price on shares of Global Payments in a research report on Tuesday, September 17th. Morgan Stanley cut their target price on shares of Global Payments from $164.00 to $156.00 and set an "overweight" rating for the company in a research note on Wednesday, September 25th. Oppenheimer started coverage on shares of Global Payments in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Finally, Royal Bank of Canada cut their price objective on Global Payments from $143.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.