Crossmark Global Holdings Inc. Decreases Position in Global Payments Inc. (NYSE:GPN)

Crossmark Global Holdings Inc. trimmed its holdings in Global Payments Inc. (NYSE:GPN) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,569 shares of the business services provider’s stock after selling 875 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Global Payments were worth $1,082,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Stanley Capital Management LLC lifted its stake in Global Payments by 18.9% in 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 in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Global Payments by 12.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock worth $35,775,000 after purchasing an additional 29,289 shares in the last quarter. LRI Investments LLC purchased a new position in Global Payments in the 1st quarter worth approximately $32,000. Gradient Investments LLC increased its holdings in shares of 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 buying an additional 29,503 shares during the last quarter. Finally, Poplar Forest Capital LLC acquired a new stake in shares of Global Payments during the 3rd quarter worth approximately $13,184,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GPN. Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Monness Crespi & Hardt cut their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. BMO Capital Markets cut their price target on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Finally, Jefferies Financial Group cut their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Global Payments presently has an average rating of “Moderate Buy” and a consensus target price of $136.50.

Global Payments Stock Performance

NYSE:GPN opened at $116.21 on Friday. The company has a market cap of $29.57 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The company has a fifty day simple moving average of $104.94 and a two-hundred day simple moving average of $103.43. Global Payments Inc. has a 52 week low of $91.60 and a 52 week 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.

Global Payments Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.86%. Global Payments’s dividend payout ratio (DPR) is currently 18.83%.

Global Payments Company 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.