Charles Schwab Investment Management Inc. Boosts Holdings in Global Payments Inc. (NYSE:GPN)

Charles Schwab Investment Management Inc. raised its holdings in shares of Global Payments Inc. (NYSE:GPN) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,541,541 shares of the business services provider’s stock after buying an additional 44,296 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Global Payments were worth $157,885,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC increased its stake in shares of Global Payments by 194.2% in the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after purchasing an additional 4,240,388 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Global Payments by 65.6% during the third 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 during the period. AQR Capital Management LLC increased its position in Global Payments by 188.1% in the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after buying an additional 755,898 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Global Payments by 316.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock worth $58,981,000 after buying an additional 463,568 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of Global Payments by 171.6% during the 2nd quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock valued at $54,279,000 after buying an additional 354,648 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GPN shares. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. Susquehanna restated a “positive” rating and set a $147.00 price objective on shares of Global Payments in a research report on Tuesday, September 17th. JPMorgan Chase & Co. dropped their target price 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. BMO Capital Markets cut their price target on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research note on Wednesday, September 25th. Finally, Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Global Payments has an average rating of “Moderate Buy” and an average target price of $136.57.

Global Payments Stock Performance

Shares of Global Payments stock opened at $117.08 on Monday. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The company has a market capitalization of $29.80 billion, a PE ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a 50-day simple moving average of $105.86 and a two-hundred day simple moving average of $103.45.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend 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.