Pathstone Holdings LLC Increases Stock Position in Global Payments Inc. (NYSE:GPN)

Pathstone Holdings LLC lifted its stake in shares of Global Payments Inc. (NYSE:GPN) by 11.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,818 shares of the business services provider’s stock after purchasing an additional 7,753 shares during the quarter. Pathstone Holdings LLC’s holdings in Global Payments were worth $7,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPN. New Covenant Trust Company N.A. acquired a new position in shares of Global Payments during the 1st quarter worth $31,000. LRI Investments LLC purchased a new stake in Global Payments in the 1st quarter valued at about $32,000. Cromwell Holdings LLC acquired a new position in Global Payments during the third quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new position in shares of Global Payments in the 3rd quarter worth $33,000. Finally, POM Investment Strategies LLC purchased a new stake in shares of Global Payments during the 2nd quarter worth about $32,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Up 1.4 %

Shares of Global Payments stock opened at $116.46 on Friday. The stock has a 50-day simple moving average of $105.73 and a 200-day simple moving average of $103.51. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The firm has a market cap of $29.64 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 0.88 and a beta of 0.97. 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. Stockholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio is 18.83%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley lowered their price target on Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Royal Bank of Canada reduced their price objective on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Monness Crespi & Hardt decreased their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. KeyCorp lowered their price objective 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. Finally, Jefferies Financial Group dropped their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. One 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $136.57.

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.