BIP Wealth LLC Has $1.17 Million Stock Position in Global Payments Inc. (NYSE:GPN)

BIP Wealth LLC lessened its holdings in shares of Global Payments Inc. (NYSE:GPN) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,387 shares of the business services provider’s stock after selling 200 shares during the quarter. BIP Wealth LLC’s holdings in Global Payments were worth $1,166,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Pzena Investment Management LLC boosted its holdings in shares of Global Payments by 194.2% during the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after buying an additional 4,240,388 shares during the period. AQR Capital Management LLC increased its stake in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after purchasing an additional 755,898 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Global Payments by 316.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock worth $58,981,000 after purchasing an additional 463,568 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Global Payments by 171.6% in the 2nd quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock valued at $54,279,000 after purchasing an additional 354,648 shares during the period. Finally, Marshall Wace LLP acquired a new position in Global Payments in the 2nd quarter valued at $31,439,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GPN shares. Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Morgan Stanley reduced their target price on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Monness Crespi & Hardt dropped their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. BTIG Research downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Finally, Oppenheimer started coverage on shares of Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Global Payments Stock Performance

NYSE:GPN opened at $116.06 on Tuesday. The company has a market capitalization of $29.54 billion, a PE ratio of 21.86, a P/E/G ratio of 0.89 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 debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a 50 day simple moving average of $105.37 and a two-hundred day simple moving average of $103.32.

Global Payments Announces Dividend

The company 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 $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.86%. Global Payments’s payout ratio is 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.