Citigroup Inc. Sells 207,764 Shares of Global Payments Inc. (NYSE:GPN)

Citigroup Inc. lessened its stake in shares of Global Payments Inc. (NYSE:GPN) by 51.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,026 shares of the business services provider’s stock after selling 207,764 shares during the quarter. Citigroup Inc. owned about 0.08% of Global Payments worth $19,872,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Global Payments by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider’s stock worth $157,885,000 after acquiring an additional 44,296 shares in the last quarter. Banco Santander S.A. acquired a new stake in Global Payments in the 3rd quarter valued at $513,000. Massachusetts Financial Services Co. MA increased its stake in Global Payments by 65.6% during the 3rd 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 purchasing an additional 785,539 shares in the last quarter. Landscape Capital Management L.L.C. raised its holdings in Global Payments by 292.2% during the third quarter. Landscape Capital Management L.L.C. now owns 10,326 shares of the business services provider’s stock worth $1,058,000 after buying an additional 7,693 shares during the last quarter. Finally, Aurora Investment Counsel lifted its stake in shares of Global Payments by 3.5% in the third quarter. Aurora Investment Counsel now owns 11,697 shares of the business services provider’s stock valued at $1,198,000 after buying an additional 397 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Performance

Shares of GPN stock opened at $117.45 on Wednesday. The firm’s 50 day moving average is $106.12 and its 200 day moving average is $103.56. The stock has a market capitalization of $29.89 billion, a P/E ratio of 22.12, a PEG 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. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

Analyst Ratings Changes

A number of research firms recently weighed in on GPN. KeyCorp lowered their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Morgan Stanley dropped 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. JPMorgan Chase & Co. decreased their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. StockNews.com cut Global Payments from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Stephens reduced their target price on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $136.57.

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.