Wellington Management Group LLP Has $39.94 Million Holdings in Global Payments Inc. (NYSE:GPN)

Wellington Management Group LLP decreased its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 65.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,916 shares of the business services provider's stock after selling 746,743 shares during the period. Wellington Management Group LLP owned approximately 0.15% of Global Payments worth $39,935,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Weiss Asset Management LP acquired a new stake in shares of Global Payments in the 3rd quarter valued at about $2,064,000. Temasek Holdings Private Ltd bought a new position in shares of Global Payments during the third quarter worth about $29,341,000. Sora Investors LLC grew its holdings in shares of Global Payments by 42.9% during the third quarter. Sora Investors LLC now owns 150,000 shares of the business services provider's stock worth $15,363,000 after buying an additional 45,000 shares in the last quarter. Soros Fund Management LLC acquired a new stake in Global Payments in the 3rd quarter valued at approximately $47,113,000. Finally, Stifel Financial Corp lifted its stake in Global Payments by 5.2% in the 3rd quarter. Stifel Financial Corp now owns 215,277 shares of the business services provider's stock valued at $22,049,000 after acquiring an additional 10,694 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Global Payments from $118.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, October 29th. Monness Crespi & Hardt lowered their price target on shares of Global Payments from $165.00 to $155.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Jefferies Financial Group reduced 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 note on Wednesday, October 16th. Seaport Res Ptn downgraded Global Payments from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Finally, BMO Capital Markets reduced their price target on Global Payments from $126.00 to $122.00 and set a "market perform" rating for the company in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of "Moderate Buy" and an average target price of $137.41.

Global Payments Stock Performance

Global Payments stock traded down $0.82 during trading hours on Thursday, hitting $116.25. The company had a trading volume of 642,900 shares, compared to its average volume of 2,261,771. The firm has a 50-day moving average of $109.08 and a 200 day moving average of $104.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $29.58 billion, a PE ratio of 22.05, a PEG ratio of 0.90 and a beta of 1.00. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. Global Payments's dividend payout ratio (DPR) is currently 18.83%.

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.