Mutual of America Capital Management LLC Reduces Stock Position in Global Payments Inc. (NYSE:GPN)

Mutual of America Capital Management LLC trimmed its stake in shares of Global Payments Inc. (NYSE:GPN) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,334 shares of the business services provider’s stock after selling 856 shares during the period. Mutual of America Capital Management LLC’s holdings in Global Payments were worth $3,209,000 as of its most recent filing with the Securities & Exchange Commission.

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

Global Payments Trading Up 0.6 %

Shares of Global Payments stock opened at $117.08 on Friday. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. 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 business has a 50-day moving average price of $105.86 and a 200-day moving average price of $103.56. The firm has a market cap of $29.80 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.88 and a beta of 0.97.

Global Payments Announces Dividend

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, December 13th. Global Payments’s payout ratio is 18.83%.

Analyst Ratings Changes

Several equities research analysts have recently commented on GPN shares. KeyCorp reduced their price target on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Barclays reduced their target price on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Monness Crespi & Hardt dropped their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Morgan Stanley decreased their target price on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, B. Riley lowered their target price on 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 equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.57.

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.