Verition Fund Management LLC Buys 43,500 Shares of Global Payments Inc. (NYSE:GPN)

Verition Fund Management LLC lifted its position in Global Payments Inc. (NYSE:GPN) by 388.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 54,692 shares of the business services provider’s stock after acquiring an additional 43,500 shares during the quarter. Verition Fund Management LLC’s holdings in Global Payments were worth $5,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GPN. Vinva Investment Management Ltd increased its stake in Global Payments by 1.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 12,215 shares of the business services provider’s stock valued at $1,234,000 after buying an additional 187 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Global Payments by 17.0% in the third quarter. Public Sector Pension Investment Board now owns 11,017 shares of the business services provider’s stock valued at $1,128,000 after acquiring an additional 1,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Global Payments by 11.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 113,799 shares of the business services provider’s stock valued at $11,655,000 after acquiring an additional 11,430 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Global Payments during the third quarter valued at approximately $323,000. Finally, Townsquare Capital LLC lifted its holdings in Global Payments by 4.4% during the third quarter. Townsquare Capital LLC now owns 3,892 shares of the business services provider’s stock worth $399,000 after acquiring an additional 165 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

NYSE:GPN opened at $118.13 on Tuesday. Global Payments Inc. has a twelve month low of $91.60 and a twelve month 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 stock has a market cap of $30.06 billion, a P/E ratio of 22.25, a PEG ratio of 0.91 and a beta of 0.97. The business’s 50-day moving average price is $106.57 and its two-hundred day moving average price is $103.76.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given 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 yield of 0.85%. Global Payments’s payout ratio is presently 18.83%.

Wall Street Analyst Weigh In

GPN has been the subject of several research analyst reports. BMO Capital Markets decreased their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research report on Wednesday, September 25th. BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. BTIG Research cut shares of Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Royal Bank of Canada decreased their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Monness Crespi & Hardt dropped their price objective on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and an average price target of $137.41.

Global Payments 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.