Marco Investment Management LLC Raises Stock Holdings in Global Payments Inc. (NYSE:GPN)

Marco Investment Management LLC lifted its holdings in Global Payments Inc. (NYSE:GPN) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,547 shares of the business services provider’s stock after purchasing an additional 825 shares during the quarter. Marco Investment Management LLC’s holdings in Global Payments were worth $5,996,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in shares of Global Payments in the 1st quarter worth about $166,000. Canada Pension Plan Investment Board raised its position in Global Payments by 62.5% during the first quarter. Canada Pension Plan Investment Board now owns 285,954 shares of the business services provider’s stock valued at $38,221,000 after purchasing an additional 109,999 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Global Payments in the 1st quarter valued at approximately $1,240,000. LRI Investments LLC purchased a new position in shares of Global Payments in the 1st quarter worth approximately $32,000. Finally, Earnest Partners LLC increased its position in shares of Global Payments by 26.4% during the 1st quarter. Earnest Partners LLC now owns 580,979 shares of the business services provider’s stock valued at $77,654,000 after purchasing an additional 121,465 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Trading Up 0.6 %

Shares of NYSE GPN opened at $117.08 on Friday. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The business has a fifty day moving average price of $105.86 and a 200 day moving average price of $103.50. The stock has a market capitalization of $29.80 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio is currently 18.83%.

Wall Street Analyst Weigh In

GPN has been the subject of a number of analyst reports. Royal Bank of Canada lowered their price target on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Monness Crespi & Hardt dropped their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. B. Riley reduced their price objective on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. BTIG Research downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Finally, BMO Capital Markets cut their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.