Oppenheimer & Co. Inc. Raises Position in Global Payments Inc. (NYSE:GPN)

Oppenheimer & Co. Inc. lifted its stake in shares of Global Payments Inc. (NYSE:GPN) by 0.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 57,820 shares of the business services provider’s stock after buying an additional 102 shares during the period. Oppenheimer & Co. Inc.’s holdings in Global Payments were worth $5,922,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GPN. Pzena Investment Management LLC boosted its holdings in Global Payments by 194.2% during the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after acquiring an additional 4,240,388 shares during the last quarter. Boston Partners boosted its holdings in Global Payments by 0.3% during the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after purchasing an additional 12,196 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Global Payments by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock worth $189,307,000 after purchasing an additional 193,137 shares in the last quarter. Davis Asset Management L.P. increased its stake in Global Payments by 18.2% in the 2nd quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock valued at $125,710,000 after buying an additional 200,000 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Global Payments by 188.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after buying an additional 755,898 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

GPN has been the subject of several recent analyst reports. BMO Capital Markets reduced their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Stephens cut their price target on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. 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. Finally, Seaport Res Ptn lowered shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.50.

Global Payments Price Performance

Shares of NYSE:GPN opened at $116.21 on Friday. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $29.57 billion, a P/E ratio of 21.89, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a 50 day moving average of $104.94 and a 200 day moving average of $103.43.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date 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%.

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.