Koa Wealth Management LLC Purchases 1,248 Shares of Global Payments Inc. (NYSE:GPN)

Koa Wealth Management LLC increased its holdings in shares of Global Payments Inc. (NYSE:GPN) by 6.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,433 shares of the business services provider’s stock after purchasing an additional 1,248 shares during the period. Global Payments accounts for 1.5% of Koa Wealth Management LLC’s holdings, making the stock its 22nd biggest holding. Koa Wealth Management LLC’s holdings in Global Payments were worth $1,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. QRG Capital Management Inc. grew its position in Global Payments by 11.2% during the 1st quarter. QRG Capital Management Inc. now owns 5,284 shares of the business services provider’s stock worth $706,000 after purchasing an additional 534 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Global Payments by 6.5% during the 1st quarter. Bleakley Financial Group LLC now owns 3,018 shares of the business services provider’s stock worth $403,000 after purchasing an additional 185 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in Global Payments by 11.1% during the first quarter. Orion Portfolio Solutions LLC now owns 11,814 shares of the business services provider’s stock worth $1,579,000 after purchasing an additional 1,180 shares during the period. Dorsey & Whitney Trust CO LLC purchased a new position in Global Payments in the first quarter worth approximately $212,000. Finally, Tocqueville Asset Management L.P. increased its position in shares of Global Payments by 12.6% during the 1st quarter. Tocqueville Asset Management L.P. now owns 7,823 shares of the business services provider’s stock worth $1,046,000 after purchasing an additional 875 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GPN. Jefferies Financial Group lowered their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Seaport Res Ptn cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. KeyCorp cut their target price on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. 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 report on Thursday, October 31st. Finally, Sanford C. Bernstein downgraded Global Payments from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Global Payments Stock Performance

NYSE GPN opened at $116.00 on Friday. Global Payments Inc. has a 52-week low of $91.60 and a 52-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. The firm has a market capitalization of $29.52 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 0.89 and a beta of 0.97. The company’s fifty day moving average is $105.25 and its two-hundred day moving average is $103.46.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

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.