Penserra Capital Management LLC Sells 9,205 Shares of Global Payments Inc. (NYSE:GPN)

Penserra Capital Management LLC cut its holdings in shares of Global Payments Inc. (NYSE:GPN) by 7.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,144 shares of the business services provider’s stock after selling 9,205 shares during the period. Penserra Capital Management LLC’s holdings in Global Payments were worth $12,099,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPN. Cromwell Holdings LLC bought a new position in Global Payments during the third quarter worth about $25,000. New Covenant Trust Company N.A. bought a new stake in shares of Global Payments in the first quarter valued at about $31,000. LRI Investments LLC bought a new stake in shares of Global Payments in the first quarter valued at about $32,000. POM Investment Strategies LLC bought a new stake in shares of Global Payments in the second quarter valued at about $32,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Global Payments in the third quarter valued at about $33,000. 89.76% of the stock is currently owned by institutional investors.

Global Payments Price Performance

Shares of NYSE GPN opened at $117.08 on Friday. The business’s 50 day moving average price is $105.86 and its two-hundred day moving average price is $103.50. The company has a market cap of $29.80 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 0.89 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 twelve month low of $91.60 and a twelve month 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s payout ratio is 18.83%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Susquehanna restated a “positive” rating and issued a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. BMO Capital Markets cut their price target on Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a report on Wednesday, September 25th. Monness Crespi & Hardt cut their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, Stephens dropped their target price on Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.57.

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.