Global Payments Inc. (NYSE:GPN) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in Global Payments Inc. (NYSE:GPN) by 43.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,604 shares of the business services provider’s stock after selling 5,927 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Global Payments were worth $779,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GPN. Swedbank AB acquired a new stake in shares of Global Payments in the first quarter valued at about $4,576,000. Cetera Investment Advisers raised its position in shares of Global Payments by 531.9% in the first quarter. Cetera Investment Advisers now owns 24,238 shares of the business services provider’s stock valued at $3,240,000 after buying an additional 20,402 shares during the last quarter. Cetera Advisors LLC raised its position in shares of Global Payments by 34.9% in the first quarter. Cetera Advisors LLC now owns 4,284 shares of the business services provider’s stock valued at $573,000 after buying an additional 1,108 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Global Payments by 683.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,821 shares of the business services provider’s stock valued at $273,000 after buying an additional 2,461 shares during the last quarter. Finally, Mather Group LLC. raised its position in shares of Global Payments by 27.2% in the second quarter. Mather Group LLC. now owns 1,189 shares of the business services provider’s stock valued at $115,000 after buying an additional 254 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Down 0.4 %

Shares of NYSE:GPN opened at $118.96 on Monday. The firm’s 50 day moving average price is $106.57 and its 200 day moving average price is $103.76. The stock has a market cap of $30.27 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. 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 quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.84%. Global Payments’s payout ratio is currently 18.83%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GPN. TD Cowen dropped their price objective on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Sanford C. Bernstein lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $135.00 to $112.00 in a report on Tuesday, October 22nd. B. Riley dropped their price objective on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Morgan Stanley dropped their price objective on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Finally, BTIG Research lowered shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.57.

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.