Verdence Capital Advisors LLC Has $367,000 Stock Holdings in Global Payments Inc. (NYSE:GPN)

Verdence Capital Advisors LLC lessened its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 56.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,583 shares of the business services provider's stock after selling 4,590 shares during the period. Verdence Capital Advisors LLC's holdings in Global Payments were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Cromwell Holdings LLC bought a new stake in Global Payments in the third quarter worth $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Global Payments during the first quarter valued at $31,000. LRI Investments LLC purchased a new position in shares of Global Payments during the first quarter valued at $32,000. POM Investment Strategies LLC purchased a new position in shares of Global Payments during the second quarter valued at $32,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Global Payments during the third quarter valued at $33,000. Institutional investors own 89.76% of the company's stock.

Global Payments Trading Up 0.8 %

Shares of GPN traded up $0.95 during midday trading on Tuesday, hitting $116.36. The stock had a trading volume of 2,745,708 shares, compared to its average volume of 2,302,087. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The business has a 50-day simple moving average of $104.69 and a two-hundred day simple moving average of $103.40. The firm has a market cap of $29.61 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 0.85 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 13th. Global Payments's payout ratio is 18.83%.

Wall Street Analyst Weigh In

GPN has been the subject of a number of research reports. B. Riley decreased their target price on Global Payments from $204.00 to $194.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. BNP Paribas raised Global Payments to a "strong sell" rating in a research note on Wednesday, September 4th. TD Cowen reduced their target price on Global Payments from $125.00 to $122.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Susquehanna reaffirmed a "positive" rating and set a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. Finally, BMO Capital Markets reduced their target price on Global Payments from $126.00 to $122.00 and set a "market perform" rating for the company in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Global Payments currently has an average rating of "Moderate Buy" and a consensus target price of $136.50.

Global Payments Company 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.