Global Payments Inc. (NYSE:GPN) Shares Purchased by Rock Point Advisors LLC

Rock Point Advisors LLC raised its position in Global Payments Inc. (NYSE:GPN) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,197 shares of the business services provider’s stock after acquiring an additional 5,837 shares during the quarter. Global Payments makes up approximately 1.8% of Rock Point Advisors LLC’s portfolio, making the stock its 22nd biggest position. Rock Point Advisors LLC’s holdings in Global Payments were worth $6,473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GPN. Pzena Investment Management LLC raised its stake in shares of Global Payments by 194.2% in the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after acquiring an additional 4,240,388 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Global Payments by 65.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after purchasing an additional 785,539 shares during the period. AQR Capital Management LLC boosted its holdings in Global Payments by 188.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after purchasing an additional 755,898 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Global Payments by 316.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock valued at $58,981,000 after purchasing an additional 463,568 shares during the period. Finally, Squarepoint Ops LLC raised its position in Global Payments by 171.6% during the second quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock worth $54,279,000 after acquiring an additional 354,648 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GPN has been the topic of several analyst reports. Morgan Stanley decreased their price target 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. BTIG Research lowered Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Jefferies Financial Group cut their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Sanford C. Bernstein lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets reduced their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and a consensus target price of $136.57.

Global Payments Stock Performance

Shares of NYSE:GPN traded down $0.49 during trading on Tuesday, hitting $118.09. 88,891 shares of the company traded hands, compared to its average volume of 2,273,545. The business’s fifty day moving average is $106.01 and its 200-day moving average is $103.50. The stock has a market capitalization of $30.05 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.90 and a beta of 0.97. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. 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 declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.85%. Global Payments’s payout ratio is currently 18.83%.

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.