State Street Corp Has $1.08 Billion Stock Holdings in Global Payments Inc. (NYSE:GPN)

State Street Corp boosted its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,542,318 shares of the business services provider's stock after purchasing an additional 8,102 shares during the quarter. State Street Corp owned approximately 4.14% of Global Payments worth $1,079,744,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pzena Investment Management LLC boosted its stake in Global Payments by 3.4% in the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider's stock valued at $679,952,000 after acquiring an additional 215,399 shares during the period. Janus Henderson Group PLC boosted its position in Global Payments by 22.7% during the 3rd 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 during the period. Massachusetts Financial Services Co. MA grew its stake in Global Payments by 65.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider's stock worth $203,047,000 after buying an additional 785,539 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Global Payments by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider's stock worth $189,307,000 after buying an additional 193,137 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Global Payments by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider's stock valued at $157,885,000 after buying an additional 44,296 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

Global Payments Stock Up 1.7 %

Shares of GPN traded up $1.98 during trading hours on Friday, reaching $117.83. The company's stock had a trading volume of 3,143,392 shares, compared to its average volume of 1,937,070. The company has a 50 day moving average of $108.10 and a two-hundred day moving average of $104.11. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market cap of $29.99 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 0.90 and a beta of 1.00. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 0.85%. Global Payments's payout ratio is 18.83%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GPN. BTIG Research cut shares of Global Payments from a "buy" rating to a "neutral" rating in a report on Wednesday, September 25th. BMO Capital Markets reduced their price objective 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. The Goldman Sachs Group raised their target price on Global Payments from $135.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Monness Crespi & Hardt reduced their price target on Global Payments from $165.00 to $155.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Finally, Morgan Stanley lowered their price target on Global Payments from $164.00 to $156.00 and set an "overweight" rating on the stock in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Global Payments presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.41.

About Global Payments

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.