CIBC Asset Management Inc Has $5.21 Million Stake in Global Payments Inc. (NYSE:GPN)

CIBC Asset Management Inc boosted its holdings in Global Payments Inc. (NYSE:GPN) by 19.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 50,848 shares of the business services provider’s stock after acquiring an additional 8,320 shares during the quarter. CIBC Asset Management Inc’s holdings in Global Payments were worth $5,208,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in Global Payments in the 1st quarter valued at $31,000. LRI Investments LLC acquired a new stake in Global Payments in the 1st quarter valued at $32,000. Cromwell Holdings LLC acquired a new stake in Global Payments in the 3rd quarter valued at $25,000. Capital Performance Advisors LLP acquired a new stake in Global Payments in the 3rd quarter valued at $33,000. Finally, POM Investment Strategies LLC acquired a new stake in Global Payments in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Trading Down 0.2 %

Shares of Global Payments stock opened at $116.00 on Monday. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The stock’s 50-day simple moving average is $105.25 and its 200 day simple moving average is $103.28. The stock has a market capitalization of $29.52 billion, a P/E ratio of 21.85, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Global Payments Dividend Announcement

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 13th. Global Payments’s payout ratio is presently 18.83%.

Analyst Upgrades and Downgrades

GPN has been the subject of several research reports. BTIG Research downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. B. Riley cut their price objective on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Monness Crespi & Hardt cut their price objective on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, BNP Paribas raised shares of Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and a consensus target price 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.