Cinctive Capital Management LP Lowers Stock Holdings in Global Payments Inc. (NYSE:GPN)

Cinctive Capital Management LP reduced its position in Global Payments Inc. (NYSE:GPN) by 63.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,302 shares of the business services provider’s stock after selling 127,485 shares during the quarter. Cinctive Capital Management LP’s holdings in Global Payments were worth $7,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Stanley Capital Management LLC grew its holdings in shares of Global Payments by 18.9% in the second quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock valued at $12,146,000 after purchasing an additional 20,000 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Global Payments by 65.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after buying an additional 785,539 shares during the period. Entropy Technologies LP acquired a new position in shares of Global Payments in the third quarter worth $562,000. Gradient Investments LLC increased its position in shares of Global Payments by 20.6% during the second quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock worth $16,723,000 after acquiring an additional 29,503 shares during the period. Finally, Poplar Forest Capital LLC acquired a new stake in shares of Global Payments in the third quarter valued at $13,184,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com cut Global Payments from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Monness Crespi & Hardt lowered their price objective on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. BMO Capital Markets reduced their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a report on Wednesday, September 25th. B. Riley lowered their price target 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. Finally, Oppenheimer started coverage on shares of Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

Global Payments Stock Performance

Shares of GPN opened at $118.96 on Monday. 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 Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The company has a 50-day simple moving average of $106.57 and a 200-day simple moving average of $103.76. The company has a market capitalization of $30.27 billion, a PE ratio of 22.40, a P/E/G ratio of 0.91 and a beta of 0.97.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given 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 18.83%.

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.