Commerce Bank Buys 617 Shares of Global Payments Inc. (NYSE:GPN)

Commerce Bank increased its stake in Global Payments Inc. (NYSE:GPN) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,248 shares of the business services provider’s stock after purchasing an additional 617 shares during the quarter. Commerce Bank’s holdings in Global Payments were worth $1,459,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GPN. Cromwell Holdings LLC bought a new stake in shares of Global Payments in the third quarter valued at $25,000. New Covenant Trust Company N.A. bought a new stake in Global Payments in the 1st quarter valued at about $31,000. LRI Investments LLC purchased a new stake in Global Payments during the first quarter valued at about $32,000. POM Investment Strategies LLC bought a new position in Global Payments during the second quarter worth about $32,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Global Payments in the third quarter worth about $33,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on GPN shares. KeyCorp dropped their price target on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. B. Riley cut their price target on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. BMO Capital Markets reduced their price target on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research report on Wednesday, September 25th. Oppenheimer began coverage on Global Payments in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $136.57.

Global Payments Stock Up 0.6 %

Shares of NYSE GPN opened at $117.08 on Friday. The stock has a market capitalization of $29.80 billion, a P/E ratio of 22.05, a PEG ratio of 0.89 and a beta of 0.97. 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 one year low of $91.60 and a one year high of $141.77. The firm’s 50 day simple moving average is $105.86 and its two-hundred day simple moving average is $103.50.

Global Payments Announces Dividend

The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s payout ratio is presently 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.