Goodman Financial Corp Grows Stock Position in Global Payments Inc. (NYSE:GPN)

Goodman Financial Corp boosted its position in shares of Global Payments Inc. (NYSE:GPN) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,959 shares of the business services provider’s stock after buying an additional 7,864 shares during the quarter. Global Payments accounts for approximately 2.8% of Goodman Financial Corp’s investment portfolio, making the stock its 20th largest position. Goodman Financial Corp’s holdings in Global Payments were worth $12,388,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GPN. Cromwell Holdings LLC purchased a new position in shares of Global Payments during the 3rd quarter worth about $25,000. New Covenant Trust Company N.A. bought a new stake in Global Payments in the first quarter worth about $31,000. LRI Investments LLC purchased a new position in shares of Global Payments during the first quarter valued at approximately $32,000. POM Investment Strategies LLC purchased a new position in shares of Global Payments during the second quarter valued at approximately $32,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Global Payments during the third quarter valued at approximately $33,000. Institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GPN. TD Cowen dropped their price objective on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Monness Crespi & Hardt lowered their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Morgan Stanley cut their price target on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Stephens decreased their price objective on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.57.

Global Payments Stock Up 1.3 %

Shares of Global Payments stock opened at $118.56 on Tuesday. The firm’s 50 day moving average price is $106.01 and its 200-day moving average price is $103.50. 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 market cap of $30.17 billion, a P/E ratio of 22.33, a PEG ratio of 0.90 and a beta of 0.97.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio is currently 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.