Blueshift Asset Management LLC Decreases Position in Global Payments Inc. (NYSE:GPN)

Blueshift Asset Management LLC reduced its stake in shares of Global Payments Inc. (NYSE:GPN) by 51.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,787 shares of the business services provider’s stock after selling 11,327 shares during the quarter. Blueshift Asset Management LLC’s holdings in Global Payments were worth $1,105,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPN. Cromwell Holdings LLC purchased a new stake in shares of Global Payments during the third quarter valued at approximately $25,000. New Covenant Trust Company N.A. acquired a new position in Global Payments in the 1st quarter worth $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments during the first quarter valued at about $32,000. POM Investment Strategies LLC acquired a new position in shares of Global Payments in the second quarter worth about $32,000. Finally, Capital Performance Advisors LLP purchased a new position in Global Payments in the third quarter valued at about $33,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GPN has been the subject of several research analyst reports. BMO Capital Markets reduced their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research note on Wednesday, September 25th. Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Finally, Barclays cut their price objective on Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $136.57.

Global Payments Stock Performance

NYSE:GPN opened at $117.45 on Wednesday. The company has a 50-day moving average of $106.12 and a 200-day moving average of $103.56. The firm has a market cap of $29.89 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The company has a current ratio of 0.93, a quick 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 firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, December 13th. Global Payments’s payout ratio is 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.