Quest Partners LLC Has $123,000 Stock Position in Global Payments Inc. (NYSE:GPN)

Quest Partners LLC cut its holdings in shares of Global Payments Inc. (NYSE:GPN) by 48.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,205 shares of the business services provider’s stock after selling 1,147 shares during the period. Quest Partners LLC’s holdings in Global Payments were worth $123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cromwell Holdings LLC purchased a new stake in Global Payments in the 3rd quarter valued at $25,000. LRI Investments LLC purchased a new stake in shares of Global Payments in the first quarter valued at about $32,000. POM Investment Strategies LLC bought a new position in shares of Global Payments during the second quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new position in Global Payments during the third quarter worth about $33,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Global Payments by 59.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Stock Performance

Global Payments stock opened at $119.38 on Friday. Global Payments Inc. has a 1-year low of $91.60 and a 1-year 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. The firm has a market capitalization of $30.38 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The firm’s 50 day simple moving average is $106.41 and its 200 day simple moving average is $103.78.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. B. Riley cut their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note 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. Jefferies Financial Group reduced their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Oppenheimer initiated coverage on shares of Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. One investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.