Patton Albertson Miller Group LLC Makes New $1.08 Million Investment in Global Payments Inc. (NYSE:GPN)

Patton Albertson Miller Group LLC acquired a new stake in Global Payments Inc. (NYSE:GPN) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 10,496 shares of the business services provider’s stock, valued at approximately $1,075,000.

A number of other institutional investors also recently modified their holdings of GPN. Stanley Capital Management LLC raised its holdings in Global Payments by 18.9% during the 2nd quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock worth $12,146,000 after purchasing an additional 20,000 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Global Payments during the first quarter worth approximately $32,000. Entropy Technologies LP acquired a new position in Global Payments in the third quarter valued at approximately $562,000. Massachusetts Financial Services Co. MA boosted its stake in Global Payments by 65.6% in the third 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 acquiring an additional 785,539 shares during the last quarter. Finally, Gradient Investments LLC grew its holdings in Global Payments by 20.6% during the 2nd 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. 89.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GPN has been the topic of a number of analyst reports. William Blair downgraded Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 25th. Susquehanna reissued a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. 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. B. Riley lowered their price target on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, BMO Capital Markets reduced their price objective on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.57.

Global Payments Price Performance

NYSE GPN opened at $118.56 on Tuesday. The firm’s 50 day moving average is $106.01 and its 200-day moving average 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. The company has a market capitalization of $30.17 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.84%. Global Payments’s payout ratio is currently 18.83%.

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.