Caprock Group LLC Sells 1,026 Shares of Global Payments Inc. (NYSE:GPN)

Caprock Group LLC decreased its position in shares of Global Payments Inc. (NYSE:GPN) by 32.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,107 shares of the business services provider’s stock after selling 1,026 shares during the period. Caprock Group LLC’s holdings in Global Payments were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GPN. Pathstone Holdings LLC increased its position in Global Payments by 11.4% during the third quarter. Pathstone Holdings LLC now owns 75,818 shares of the business services provider’s stock worth $7,765,000 after acquiring an additional 7,753 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Global Payments by 5.3% during the third quarter. Thrivent Financial for Lutherans now owns 36,436 shares of the business services provider’s stock worth $3,732,000 after purchasing an additional 1,838 shares during the period. Natixis Advisors LLC increased its holdings in shares of Global Payments by 28.0% during the third quarter. Natixis Advisors LLC now owns 227,484 shares of the business services provider’s stock worth $23,299,000 after purchasing an additional 49,726 shares during the period. Koa Wealth Management LLC raised its position in shares of Global Payments by 6.9% in the third quarter. Koa Wealth Management LLC now owns 19,433 shares of the business services provider’s stock valued at $1,990,000 after buying an additional 1,248 shares in the last quarter. Finally, Empirical Finance LLC boosted its stake in shares of Global Payments by 1.8% in the third quarter. Empirical Finance LLC now owns 9,222 shares of the business services provider’s stock valued at $945,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

GPN has been the subject of several analyst reports. Stephens dropped their price objective on Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Oppenheimer began coverage on Global Payments in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Seaport Res Ptn cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. BTIG Research lowered shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Finally, KeyCorp cut their price target on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. One 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.57.

Global Payments Trading Up 0.6 %

GPN opened at $117.08 on Monday. The company’s 50 day moving average price is $105.86 and its two-hundred day moving average price is $103.45. The firm has a market capitalization of $29.80 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.89 and a beta of 0.97. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Global Payments Announces Dividend

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