Van ECK Associates Corp decreased its position in Global Payments Inc. (NYSE:GPN - Free Report) by 43.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,601 shares of the business services provider's stock after selling 19,135 shares during the quarter. Van ECK Associates Corp's holdings in Global Payments were worth $2,457,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Cromwell Holdings LLC acquired a new stake in Global Payments during the 3rd quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new stake in Global Payments during the 1st quarter worth approximately $31,000. LRI Investments LLC purchased a new stake in Global Payments during the 1st quarter worth approximately $32,000. POM Investment Strategies LLC acquired a new position in shares of Global Payments in the 2nd quarter valued at approximately $32,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Global Payments by 59.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider's stock valued at $39,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on GPN. BMO Capital Markets reduced their price target on shares of Global Payments from $126.00 to $122.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 25th. Barclays cut their target price on shares of Global Payments from $145.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, September 30th. Monness Crespi & Hardt reduced their price objective 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. William Blair lowered Global Payments from an "outperform" rating to a "market perform" rating in a research report on Wednesday, September 25th. Finally, Oppenheimer initiated coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a "market perform" rating for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $136.50.
View Our Latest Stock Report on Global Payments
Global Payments Price Performance
NYSE GPN traded up $4.56 during trading on Monday, reaching $115.44. 2,500,704 shares of the company traded hands, compared to its average volume of 2,300,052. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. 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 stock's 50 day moving average price is $104.60 and its two-hundred day moving average price is $103.46. The company has a market cap of $29.38 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 0.85 and a beta of 0.97.
Global Payments Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.87%. Global Payments's dividend payout ratio is currently 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.
Read More
Before you consider Global Payments, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global Payments wasn't on the list.
While Global Payments currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
