Oppenheimer Asset Management Inc. Raises Stake in Global Payments Inc. (NYSE:GPN)

Oppenheimer Asset Management Inc. grew its holdings in Global Payments Inc. (NYSE:GPN) by 114.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 66,570 shares of the business services provider’s stock after buying an additional 35,512 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Global Payments were worth $6,818,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GPN. New Covenant Trust Company N.A. acquired a new stake in Global Payments during the 1st quarter worth approximately $31,000. LRI Investments LLC purchased a new position in Global Payments in the 1st quarter valued at $32,000. Cromwell Holdings LLC purchased a new position in Global Payments in the 3rd quarter valued at $25,000. Capital Performance Advisors LLP acquired a new position in Global Payments in the 3rd quarter valued at $33,000. Finally, POM Investment Strategies LLC purchased a new position in Global Payments during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Stock Performance

Global Payments stock opened at $116.21 on Friday. The stock has a fifty day moving average price of $104.94 and a 200 day moving average price of $103.43. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The firm has a market capitalization of $29.57 billion, a P/E ratio of 21.89, a PEG ratio of 0.89 and a beta of 0.97. 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 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 of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. Global Payments’s payout ratio is 18.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Monness Crespi & Hardt cut their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a report on Tuesday. Sanford C. Bernstein lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Susquehanna reiterated a “positive” rating and issued a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. Finally, Jefferies Financial Group decreased their price objective on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.50.

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.