Crossmark Global Holdings Inc. reduced its stake in Global Payments Inc. (NYSE:GPN – Free Report) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 9,535 shares of the business services provider’s stock after selling 1,034 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Global Payments were worth $1,068,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its position in shares of Global Payments by 0.3% in the third quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock worth $2,760,000 after buying an additional 86 shares during the period. Sage Capital Advisors llc boosted its holdings in Global Payments by 0.3% in the 4th quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider’s stock worth $3,164,000 after acquiring an additional 96 shares during the period. SYM FINANCIAL Corp grew its position in Global Payments by 4.1% in the third quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock valued at $250,000 after acquiring an additional 97 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC lifted its position in shares of Global Payments by 1.2% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after purchasing an additional 98 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Global Payments by 27.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on GPN. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Financial Group cut their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Sanford C. Bernstein cut Global Payments from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $135.00 to $112.00 in a research note on Tuesday, October 22nd. Finally, Stephens downgraded shares of Global Payments from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $125.00 to $120.00 in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Global Payments currently has an average rating of “Hold” and a consensus target price of $135.71.
Insider Buying and Selling
In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.98% of the company’s stock.
Global Payments Trading Up 1.0 %
Global Payments stock opened at $108.92 on Friday. 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. The firm has a market capitalization of $27.72 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 0.78 and a beta of 1.00. The firm has a 50-day moving average price of $113.40 and a two-hundred day moving average price of $107.40.
Global Payments Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is 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.
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