Itau Unibanco Holding S.A. Purchases New Shares in Global Payments Inc. (NYSE:GPN)

Itau Unibanco Holding S.A. acquired a new position in shares of Global Payments Inc. (NYSE:GPN) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 5,208 shares of the business services provider’s stock, valued at approximately $533,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Stanley Capital Management LLC increased its stake in shares of Global Payments by 18.9% in the second quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock worth $12,146,000 after purchasing an additional 20,000 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Global Payments by 65.6% during the 3rd 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 acquiring an additional 785,539 shares during the period. Entropy Technologies LP bought a new position in Global Payments during the third quarter valued at approximately $562,000. Gradient Investments LLC raised its stake in shares of Global Payments by 20.6% in the second quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock valued at $16,723,000 after acquiring an additional 29,503 shares during the period. Finally, Poplar Forest Capital LLC purchased a new position in Global Payments during the 3rd quarter worth $13,184,000. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

NYSE:GPN opened at $118.13 on Tuesday. The firm has a market capitalization of $30.06 billion, a P/E ratio of 22.25, a P/E/G ratio of 0.91 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 company has a fifty day moving average of $106.57 and a 200-day moving average of $103.76.

Global Payments Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.85%. Global Payments’s dividend payout ratio (DPR) is currently 18.83%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. KeyCorp lowered their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Susquehanna reaffirmed a “positive” rating and set a $147.00 price target on shares of Global Payments in a research note on Tuesday, September 17th. Finally, 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 research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.41.

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.