Weiss Asset Management LP Invests $2.06 Million in Global Payments Inc. (NYSE:GPN)

Weiss Asset Management LP purchased a new position in Global Payments Inc. (NYSE:GPN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,156 shares of the business services provider's stock, valued at approximately $2,064,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cromwell Holdings LLC purchased a new position in Global Payments in the third quarter worth about $25,000. POM Investment Strategies LLC purchased a new position in Global Payments in the 2nd quarter worth approximately $32,000. Capital Performance Advisors LLP bought a new position in Global Payments in the 3rd quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. boosted its stake in 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 purchasing an additional 143 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Global Payments by 134.4% in the 2nd quarter. Quarry LP now owns 511 shares of the business services provider's stock worth $49,000 after purchasing an additional 293 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Global Payments Price Performance

Shares of Global Payments stock traded up $1.98 during trading hours on Friday, hitting $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 market cap of $29.99 billion, a PE ratio of 22.19, a PEG ratio of 0.90 and a beta of 1.00. 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 business has a 50 day moving average price of $108.10 and a two-hundred day moving average price of $104.11. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77.

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments's dividend payout ratio (DPR) is currently 18.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays lowered their price target on Global Payments from $145.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, September 30th. Morgan Stanley lowered their target price on shares of Global Payments from $164.00 to $156.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 25th. Monness Crespi & Hardt reduced their price target 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. BTIG Research downgraded shares of Global Payments from a "buy" rating to a "neutral" rating in a research report on Wednesday, September 25th. Finally, BNP Paribas raised shares of Global Payments to a "strong sell" rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.