Global Payments Inc. (NYSE:GPN) Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC grew its stake in Global Payments Inc. (NYSE:GPN) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 6,638,862 shares of the business services provider’s stock after purchasing an additional 215,399 shares during the period. Global Payments makes up approximately 2.2% of Pzena Investment Management LLC’s holdings, making the stock its 23rd biggest holding. Pzena Investment Management LLC’s holdings in Global Payments were worth $679,952,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in Global Payments during the first quarter worth about $31,000. LRI Investments LLC acquired a new stake in Global Payments during the first quarter worth about $32,000. Cromwell Holdings LLC acquired a new stake in Global Payments during the third quarter worth about $25,000. Capital Performance Advisors LLP acquired a new stake in Global Payments during the third quarter worth about $33,000. Finally, POM Investment Strategies LLC acquired a new stake in Global Payments during the second quarter worth about $32,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Stock Down 0.1 %

GPN stock traded down $0.17 during midday trading on Wednesday, reaching $114.55. The company had a trading volume of 211,121 shares, compared to its average volume of 2,283,910. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $29.15 billion, a P/E ratio of 21.60, a PEG ratio of 0.89 and a beta of 0.97. The company has a 50 day moving average of $105.48 and a two-hundred day moving average of $103.34.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.87%. Global Payments’s payout ratio is 18.83%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Morgan Stanley decreased their target price on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Wednesday. BTIG Research cut shares of Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. Finally, Sanford C. Bernstein cut shares of Global Payments from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $135.00 to $112.00 in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

Global Payments 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.