Victory Capital Management Inc. Cuts Stake in Global Payments Inc. (NYSE:GPN)

Victory Capital Management Inc. lowered its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 13.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,852,629 shares of the business services provider's stock after selling 444,801 shares during the period. Victory Capital Management Inc. owned approximately 1.12% of Global Payments worth $292,166,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Allen Mooney & Barnes Investment Advisors LLC grew its stake in shares of Global Payments by 1.2% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider's stock worth $841,000 after purchasing an additional 98 shares during the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of Global Payments by 27.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider's stock worth $56,000 after acquiring an additional 116 shares in the last quarter. Archford Capital Strategies LLC lifted its stake in shares of Global Payments by 1.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider's stock valued at $1,121,000 after purchasing an additional 137 shares during the period. Paloma Partners Management Co boosted its position in shares of Global Payments by 4.5% during the first quarter. Paloma Partners Management Co now owns 3,180 shares of the business services provider's stock valued at $425,000 after purchasing an additional 138 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider's stock worth $39,000 after purchasing an additional 143 shares during the period. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Performance

Shares of NYSE GPN traded up $0.95 during trading on Tuesday, hitting $116.36. The company had a trading volume of 2,742,039 shares, compared to its average volume of 2,302,087. The stock has a 50 day simple moving average of $104.69 and a 200 day simple moving average of $103.40. 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 Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The firm has a market capitalization of $29.61 billion, a P/E ratio of 21.91, a price-to-earnings-growth 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. Stockholders of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments's dividend payout ratio (DPR) is currently 18.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GPN shares. JPMorgan Chase & Co. reduced their price target on Global Payments from $118.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 29th. BNP Paribas raised Global Payments to a "strong sell" rating in a research note on Wednesday, September 4th. Susquehanna reaffirmed a "positive" rating and issued a $147.00 price target on shares of Global Payments in a research note on Tuesday, September 17th. Oppenheimer started coverage on Global Payments in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Finally, Jefferies Financial Group reduced their price target on Global Payments from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. One equities research 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.com, Global Payments presently has a consensus rating of "Moderate Buy" and an average price target 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.