Global Payments Inc. (NYSE:GPN) Shares Bought by Virtu Financial LLC

Virtu Financial LLC grew its position in shares of Global Payments Inc. (NYSE:GPN) by 79.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,107 shares of the business services provider’s stock after acquiring an additional 14,212 shares during the period. Virtu Financial LLC’s holdings in Global Payments were worth $3,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cromwell Holdings LLC purchased a new stake in Global Payments during the 3rd quarter worth $25,000. POM Investment Strategies LLC acquired a new position in shares of Global Payments during the second quarter worth about $32,000. Capital Performance Advisors LLP purchased a new stake in shares of Global Payments in the third quarter worth about $33,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of 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 buying an additional 143 shares in the last quarter. Finally, Quarry LP lifted its position in Global Payments by 134.4% during the 2nd quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after acquiring an additional 293 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GPN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective 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. Stephens dropped their price target on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Susquehanna reaffirmed a “positive” rating and issued a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. William Blair lowered shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group cut their target price on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.41.

Global Payments Stock Up 1.1 %

GPN opened at $117.08 on Thursday. 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 Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock’s 50 day moving average price is $108.70 and its 200 day moving average price is $104.29. The stock has a market cap of $29.80 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.90 and a beta of 1.00.

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. 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 (DPR) 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.