DRW Securities LLC Makes New Investment in Global Payments Inc. (NYSE:GPN)

DRW Securities LLC bought a new stake in shares of Global Payments Inc. (NYSE:GPN) during the third quarter, HoldingsChannel.com reports. The fund bought 4,805 shares of the business services provider’s stock, valued at approximately $492,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pzena Investment Management LLC boosted its stake in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after purchasing an additional 4,240,388 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Global Payments by 65.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after acquiring an additional 785,539 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Global Payments by 188.1% during 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 acquiring an additional 755,898 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Global Payments by 316.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock valued at $58,981,000 after acquiring an additional 463,568 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Global Payments by 171.6% in the second quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock valued at $54,279,000 after purchasing an additional 354,648 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on GPN. BNP Paribas raised Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lowered their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. William Blair lowered Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. Barclays dropped their target price on Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Finally, KeyCorp lowered their price target on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.57.

Global Payments Stock Performance

NYSE GPN opened at $117.45 on Wednesday. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week 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 firm has a market capitalization of $29.89 billion, a P/E ratio of 22.12, a PEG ratio of 0.90 and a beta of 0.97. The stock has a 50-day simple moving average of $106.12 and a two-hundred day simple moving average of $103.56.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 annualized dividend and a yield of 0.85%. Global Payments’s dividend payout ratio is presently 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.