Bamco Inc. NY Sells 400 Shares of Global Payments Inc. (NYSE:GPN)

Bamco Inc. NY lowered its position in shares of Global Payments Inc. (NYSE:GPN) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,000 shares of the business services provider’s stock after selling 400 shares during the quarter. Bamco Inc. NY’s holdings in Global Payments were worth $819,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GPN. Allen Mooney & Barnes Investment Advisors LLC raised its holdings in Global Payments by 1.2% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after purchasing an additional 98 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of Global Payments by 27.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock worth $56,000 after buying an additional 116 shares during the last quarter. Metis Global Partners LLC lifted its holdings in Global Payments by 1.4% in the third quarter. Metis Global Partners LLC now owns 8,257 shares of the business services provider’s stock valued at $846,000 after buying an additional 116 shares during the period. Archford Capital Strategies LLC lifted its holdings in Global Payments by 1.2% in the second quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider’s stock valued at $1,121,000 after buying an additional 137 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

GPN has been the topic of a number of analyst reports. BNP Paribas raised Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. Susquehanna restated a “positive” rating and set a $147.00 target price on shares of Global Payments in a report on Tuesday, September 17th. JPMorgan Chase & Co. lowered their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Sanford C. Bernstein downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating and cut their price target for the company from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Finally, Monness Crespi & Hardt decreased their price objective on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.41.

Global Payments Stock Performance

Shares of GPN opened at $118.25 on Wednesday. The stock has a market capitalization of $30.09 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 0.91 and a beta of 1.00. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The firm has a fifty day simple moving average of $107.01 and a 200 day simple moving average of $103.89. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The firm 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 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 is 18.83%.

About Global Payments

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.