Global Payments Inc. (NYSE:GPN) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC lessened its position in Global Payments Inc. (NYSE:GPN) by 9.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,582 shares of the business services provider’s stock after selling 378 shares during the period. Truvestments Capital LLC’s holdings in Global Payments were worth $367,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC boosted its holdings in Global Payments by 3.4% in the 3rd quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after purchasing an additional 215,399 shares in the last quarter. Boston Partners lifted its holdings in shares of Global Payments by 0.3% in the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock valued at $639,967,000 after buying an additional 12,196 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Global Payments by 65.6% in 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 buying an additional 785,539 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Global Payments by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock worth $189,307,000 after acquiring an additional 193,137 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Global Payments by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider’s stock worth $157,885,000 after acquiring an additional 44,296 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Price Performance

GPN opened at $118.56 on Tuesday. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. 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’s 50 day simple moving average is $106.01 and its 200 day simple moving average is $103.50. The stock has a market capitalization of $30.17 billion, a PE ratio of 22.33, a P/E/G ratio of 0.90 and a beta of 0.97.

Global Payments Dividend Announcement

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. Global Payments’s dividend payout ratio is presently 18.83%.

Wall Street Analyst Weigh In

GPN has been the topic of several research analyst reports. Royal Bank of Canada decreased their target price on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. William Blair lowered shares of Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 25th. Seaport Res Ptn cut Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. B. Riley reduced their price objective on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Morgan Stanley decreased their target price on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. One equities 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 stock. Based on data from MarketBeat, Global Payments has an average rating of “Moderate Buy” and an average target price 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.