GAMMA Investing LLC Has $237,000 Position in Global Payments Inc. (NYSE:GPN)

GAMMA Investing LLC raised its holdings in shares of Global Payments Inc. (NYSE:GPN) by 18.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,118 shares of the business services provider’s stock after buying an additional 335 shares during the period. GAMMA Investing LLC’s holdings in Global Payments were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in Global Payments by 45.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,499 shares of the business services provider’s stock valued at $1,499,000 after buying an additional 4,838 shares during the last quarter. TD Asset Management Inc lifted its holdings in Global Payments by 6.0% during the 2nd quarter. TD Asset Management Inc now owns 124,626 shares of the business services provider’s stock worth $12,051,000 after purchasing an additional 7,033 shares during the last quarter. National Bank of Canada FI boosted its stake in Global Payments by 24.0% in the 2nd quarter. National Bank of Canada FI now owns 71,779 shares of the business services provider’s stock valued at $6,868,000 after purchasing an additional 13,883 shares during the period. Candriam S.C.A. grew its holdings in Global Payments by 9.7% in the 2nd quarter. Candriam S.C.A. now owns 18,459 shares of the business services provider’s stock valued at $1,785,000 after buying an additional 1,639 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Global Payments by 532.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 12,797 shares of the business services provider’s stock worth $1,237,000 after buying an additional 10,773 shares during the period. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Performance

NYSE GPN opened at $112.42 on Wednesday. The company has a market capitalization of $28.61 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 0.88 and a beta of 1.00. 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 Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. The stock has a fifty day simple moving average of $113.85 and a 200 day simple moving average of $106.51.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. Global Payments’s dividend payout ratio (DPR) is 18.83%.

Insider Buying and Selling

In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares of the company’s stock, valued at approximately $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.98% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on GPN. BTIG Research downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Monness Crespi & Hardt lowered their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Royal Bank of Canada cut their price target on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price objective on Global Payments from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Barclays upped their target price on Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $138.55.

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.