Global Payments Inc. (NYSE:GPN) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Global Payments Inc. (NYSE:GPN) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,928,445 shares of the business services provider’s stock after buying an additional 31,934 shares during the period. Geode Capital Management LLC’s holdings in Global Payments were worth $605,078,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pzena Investment Management LLC grew its position in Global Payments by 3.4% during the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after acquiring an additional 215,399 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Global Payments by 22.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after purchasing an additional 490,411 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Global Payments by 65.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after purchasing an additional 785,539 shares during the period. Dimensional Fund Advisors LP increased its position in Global Payments by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock worth $189,307,000 after purchasing an additional 193,137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Global Payments by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider’s stock valued at $157,885,000 after buying an additional 44,296 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Trading Down 1.1 %

Shares of NYSE GPN opened at $115.77 on Friday. The stock has a market capitalization of $29.46 billion, a P/E ratio of 21.80, a PEG ratio of 0.90 and a beta of 1.00. The stock’s 50 day moving average price is $109.08 and its two-hundred day moving average price is $104.37. 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.

Global Payments Dividend Announcement

The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio is presently 18.83%.

Analysts Set New Price Targets

GPN has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank of Canada decreased their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Oppenheimer began coverage on Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Monness Crespi & Hardt decreased their target price 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. Finally, KeyCorp dropped their target price on Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.41.

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.