Reinhart Partners LLC. Has $9.85 Million Position in Global Payments Inc. (NYSE:GPN)

Reinhart Partners LLC. lowered its position in Global Payments Inc. (NYSE:GPN) by 18.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 87,937 shares of the business services provider’s stock after selling 19,831 shares during the period. Reinhart Partners LLC.’s holdings in Global Payments were worth $9,854,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GPN. Cromwell Holdings LLC bought a new stake in shares of Global Payments in the 3rd quarter worth $25,000. Beaird Harris Wealth Management LLC bought a new position in Global Payments during the third quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new position in Global Payments during the third quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. grew its position in Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 143 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Global Payments by 134.4% during the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 293 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analysts Set New Price Targets

GPN has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Morgan Stanley raised their price target on Global Payments from $156.00 to $166.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods raised their price target on Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, December 9th. BTIG Research downgraded Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Finally, Seaport Res Ptn cut Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $135.71.

Insider Buying and Selling at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the business’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $116.00 per share, with a total value of $672,800.00. Following the acquisition, the director now owns 42,738 shares of the company’s stock, valued at $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.98% of the stock is owned by insiders.

Global Payments Trading Up 0.7 %

GPN stock traded up $0.71 during midday trading on Monday, reaching $106.42. 1,294,398 shares of the company’s stock traded hands, compared to its average volume of 1,265,824. The company has a market capitalization of $27.08 billion, a P/E ratio of 20.04, a PEG ratio of 0.88 and a beta of 1.00. The business has a 50-day moving average price of $114.19 and a two-hundred day moving average price of $106.79. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.94%. Global Payments’s payout ratio is 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.