Teachers Retirement System of The State of Kentucky Sells 1,579 Shares of Global Payments Inc. (NYSE:GPN)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Global Payments Inc. (NYSE:GPN) by 7.5% in the 3rd quarter, Holdings Channel reports. The fund owned 19,510 shares of the business services provider’s stock after selling 1,579 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Global Payments were worth $1,999,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GPN. Pzena Investment Management LLC increased its stake in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after purchasing an additional 4,240,388 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of 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 worth $203,047,000 after buying an additional 785,539 shares during the last quarter. AQR Capital Management LLC increased its position in Global Payments by 188.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after buying an additional 755,898 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Global Payments by 22.7% in the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock worth $271,090,000 after acquiring an additional 490,411 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Global Payments by 316.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock worth $58,981,000 after acquiring an additional 463,568 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPN has been the topic of a number of analyst reports. 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. BMO Capital Markets cut their price target 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. Royal Bank of Canada reduced 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. Jefferies Financial Group lowered their price objective on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Monness Crespi & Hardt reduced their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.41.

Global Payments Stock Down 0.2 %

Shares of GPN stock opened at $113.99 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock has a market cap of $29.01 billion, a P/E ratio of 21.47, a P/E/G ratio of 0.90 and a beta of 1.00. The company has a 50 day simple moving average of $110.08 and a two-hundred day simple moving average of $104.68.

Global Payments Announces Dividend

The business 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 is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. Global Payments’s dividend payout ratio is currently 18.83%.

Insider Activity at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of Global Payments stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the transaction, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This represents a 15.70 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.98% of the stock is owned by company insiders.

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.