Fmr LLC Has $448.98 Million Stock Holdings in Global Payments Inc. (NYSE:GPN)

Fmr LLC lowered its position in shares of Global Payments Inc. (NYSE:GPN) by 46.8% in the third quarter, Holdings Channel reports. The institutional investor owned 4,383,743 shares of the business services provider’s stock after selling 3,862,982 shares during the period. Fmr LLC’s holdings in Global Payments were worth $448,983,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cromwell Holdings LLC bought a new position in Global Payments during the third quarter worth about $25,000. LRI Investments LLC acquired a new position in shares of Global Payments during the 1st quarter worth approximately $32,000. POM Investment Strategies LLC acquired a new stake in shares of Global Payments in the second quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new stake in shares of Global Payments in the third quarter valued at approximately $33,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GPN. BMO Capital Markets cut their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research report on Wednesday, September 25th. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Stephens decreased their target price on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Jefferies Financial Group dropped their target price on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, B. Riley reduced their price target on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

Global Payments Stock Down 0.4 %

Shares of NYSE:GPN opened at $118.96 on Friday. The firm has a market cap of $30.27 billion, a P/E ratio of 22.40, a P/E/G ratio of 0.91 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. The business has a fifty day simple moving average of $106.57 and a 200 day simple moving average of $103.84. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. Global Payments’s dividend payout ratio (DPR) is 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.