Axxcess Wealth Management LLC Invests $202,000 in Global Payments Inc. (NYSE:GPN)

Axxcess Wealth Management LLC bought a new position in shares of Global Payments Inc. (NYSE:GPN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,976 shares of the business services provider’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GPN. Pzena Investment Management LLC increased its position in shares of Global Payments by 194.2% during the second 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. AQR Capital Management LLC increased its position in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after acquiring an additional 755,898 shares during the last quarter. Natixis increased its position in shares of Global Payments by 830.2% during the first quarter. Natixis now owns 589,520 shares of the business services provider’s stock worth $78,795,000 after acquiring an additional 526,143 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Global Payments by 316.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock worth $58,981,000 after acquiring an additional 463,568 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Global Payments by 171.6% in the second quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock valued at $54,279,000 after buying an additional 354,648 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Price Performance

NYSE GPN opened at $116.21 on Friday. The stock has a market capitalization of $29.57 billion, a P/E ratio of 21.86, a P/E/G ratio of 0.89 and a beta of 0.97. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The business’s fifty day moving average is $104.94 and its two-hundred day moving average is $103.43. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued 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 0.86%. Global Payments’s dividend payout ratio is currently 18.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GPN. Monness Crespi & Hardt decreased their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Oppenheimer began coverage on Global Payments in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Jefferies Financial Group decreased their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. KeyCorp decreased their target price on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Finally, Barclays decreased their target price on Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.50.

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.