Global Payments Inc. (NYSE:GPN) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in Global Payments Inc. (NYSE:GPN) by 114.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 66,570 shares of the business services provider’s stock after acquiring an additional 35,512 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Global Payments were worth $6,818,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GPN. Cromwell Holdings LLC purchased a new position in Global Payments in the third quarter valued at approximately $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Global Payments in the 1st quarter valued at $31,000. LRI Investments LLC purchased a new position in shares of Global Payments in the 1st quarter valued at $32,000. POM Investment Strategies LLC acquired a new position in shares of Global Payments during the 2nd quarter valued at $32,000. Finally, Capital Performance Advisors LLP purchased a new stake in Global Payments during the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

Shares of GPN opened at $116.21 on Friday. The firm has a fifty day moving average of $104.94 and a 200-day moving average of $103.43. The company has a market cap of $29.57 billion, a price-to-earnings ratio of 21.89, 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 quick ratio of 0.93 and a current ratio of 0.93. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77.

Global Payments Announces Dividend

The firm 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 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 0.86%. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

Analyst Ratings Changes

A number of research analysts have commented on the company. B. Riley reduced their price objective on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Sanford C. Bernstein cut Global Payments from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $135.00 to $112.00 in a report on Tuesday, October 22nd. Oppenheimer started coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Morgan Stanley decreased their target price on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Finally, 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.50.

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.