Schwab Charles Investment Management Inc. grew its stake in shares of Global Payments Inc (NYSE:GPN) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 507,013 shares of the business services provider’s stock after purchasing an additional 12,846 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.32% of Global Payments worth $48,182,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Global Payments by 3.0% during the second quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after purchasing an additional 448,864 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Global Payments by 3.4% during the third quarter. JPMorgan Chase & Co. now owns 3,396,554 shares of the business services provider’s stock valued at $319,071,000 after purchasing an additional 112,256 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Global Payments by 11,779.8% during the second quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock valued at $207,086,000 after purchasing an additional 2,273,498 shares during the last quarter. Capital International Investors purchased a new position in shares of Global Payments during the second quarter valued at approximately $173,900,000. Finally, Frontier Capital Management Co. LLC increased its holdings in Global Payments by 0.9% during the third quarter. Frontier Capital Management Co. LLC now owns 1,836,396 shares of the business services provider’s stock valued at $174,513,000 after buying an additional 16,898 shares during the last quarter. 98.90% of the stock is currently owned by hedge funds and other institutional investors.
Global Payments Inc (NYSE:GPN) traded down $0.08 during mid-day trading on Friday, reaching $100.24. 844,418 shares of the company were exchanged, compared to its average volume of 1,071,876. The firm has a market cap of $15,965.17, a PE ratio of 56.00, a PEG ratio of 1.84 and a beta of 1.11. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments Inc has a one year low of $68.98 and a one year high of $104.90.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Thursday, December 14th. Global Payments’s dividend payout ratio is presently 2.23%.
A number of brokerages have commented on GPN. Cowen reaffirmed a “buy” rating and set a $102.00 target price on shares of Global Payments in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Wednesday, October 11th. KeyCorp reiterated a “buy” rating and issued a $110.00 price target on shares of Global Payments in a research report on Friday, October 27th. Bank of America started coverage on shares of Global Payments in a research report on Tuesday, September 12th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $122.00 target price on shares of Global Payments in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $106.15.
In other news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of Global Payments stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $99.82, for a total transaction of $2,595,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $101.55, for a total transaction of $60,930.00. Following the transaction, the director now directly owns 44,893 shares of the company’s stock, valued at $4,558,884.15. The disclosure for this sale can be found here. Insiders have sold a total of 29,600 shares of company stock valued at $2,954,042 over the last three months. 0.93% of the stock is currently owned by insiders.
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Global Payments Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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