Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 620,391 shares of the business services provider's stock after selling 6,019 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Global Payments worth $63,540,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in shares of Global Payments by 11.2% in the first quarter. QRG Capital Management Inc. now owns 5,284 shares of the business services provider's stock valued at $706,000 after purchasing an additional 534 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Global Payments by 6.5% during the 1st quarter. Bleakley Financial Group LLC now owns 3,018 shares of the business services provider's stock worth $403,000 after buying an additional 185 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Global Payments by 15.4% during the 1st quarter. Blair William & Co. IL now owns 84,127 shares of the business services provider's stock worth $11,244,000 after buying an additional 11,198 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Global Payments by 11.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 11,814 shares of the business services provider's stock worth $1,579,000 after buying an additional 1,180 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC bought a new position in shares of Global Payments in the 1st quarter valued at about $212,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. StockNews.com raised Global Payments from a "hold" rating to a "buy" rating in a research report on Tuesday. Stephens cut their price objective on Global Payments from $130.00 to $125.00 and set an "overweight" rating for the company in a report on Friday, October 18th. Monness Crespi & Hardt decreased their target price on shares of Global Payments from $165.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. William Blair lowered shares of Global Payments from an "outperform" rating to a "market perform" rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group decreased their price objective on shares of Global Payments from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $136.50.
Check Out Our Latest Research Report on Global Payments
Global Payments Price Performance
NYSE GPN traded down $0.21 during midday trading on Friday, hitting $116.00. The company had a trading volume of 1,749,706 shares, compared to its average volume of 2,294,866. The firm has a 50-day moving average price of $105.09 and a 200-day moving average price of $103.52. The company has a market capitalization of $29.52 billion, a PE ratio of 21.99, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77.
Global Payments Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments's dividend payout ratio (DPR) is presently 18.83%.
About Global Payments
(
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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