Global Payments Inc. (NYSE:GPN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in shares of Global Payments Inc. (NYSE:GPN) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,678 shares of the business services provider’s stock after selling 4,961 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Global Payments were worth $16,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in GPN. Swedbank AB bought a new stake in Global Payments in the first quarter valued at $4,576,000. Cetera Investment Advisers lifted its position in Global Payments by 531.9% in the 1st quarter. Cetera Investment Advisers now owns 24,238 shares of the business services provider’s stock valued at $3,240,000 after purchasing an additional 20,402 shares during the last quarter. Cetera Advisors LLC boosted its stake in Global Payments by 34.9% during the 1st quarter. Cetera Advisors LLC now owns 4,284 shares of the business services provider’s stock valued at $573,000 after purchasing an additional 1,108 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Global Payments by 683.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,821 shares of the business services provider’s stock worth $273,000 after purchasing an additional 2,461 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of Global Payments by 27.2% in the second quarter. Mather Group LLC. now owns 1,189 shares of the business services provider’s stock valued at $115,000 after purchasing an additional 254 shares during the period. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stephens reduced their price objective on Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Oppenheimer started coverage on Global Payments in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Barclays lowered their price target on Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. William Blair downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. Finally, Susquehanna reissued a “positive” rating and set a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.57.

Global Payments Stock Down 0.4 %

Shares of NYSE:GPN opened at $118.96 on Monday. The firm has a 50 day simple moving average of $106.57 and a 200 day simple moving average of $103.76. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $30.27 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. 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.