40,803 Shares in Global Payments Inc. (NYSE:GPN) Bought by Ellsworth Advisors LLC

Ellsworth Advisors LLC purchased a new stake in Global Payments Inc. (NYSE:GPN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 40,803 shares of the business services provider’s stock, valued at approximately $4,572,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cromwell Holdings LLC acquired a new stake in shares of Global Payments in the third quarter valued at about $25,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Global Payments during the 3rd quarter worth approximately $25,000. Capital Performance Advisors LLP bought a new stake in shares of Global Payments during the 3rd quarter worth approximately $33,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Global Payments by 59.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after buying an additional 143 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Global Payments by 134.4% in the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock valued at $49,000 after buying an additional 293 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of Global Payments stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the purchase, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

Global Payments Stock Performance

Shares of Global Payments stock opened at $108.41 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market cap of $27.59 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 0.75 and a beta of 1.00. The company has a 50 day moving average of $114.01 and a 200-day moving average of $107.15. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, December 13th. Global Payments’s dividend payout ratio is presently 18.83%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. B. Riley cut their price target on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Royal Bank of Canada reduced their price target on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group dropped their price objective on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. 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. Finally, BTIG Research cut Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $135.71.

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.