Global Payments Inc. (NYSE:GPN) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. decreased its position in Global Payments Inc. (NYSE:GPN) by 11.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,789 shares of the business services provider’s stock after selling 1,827 shares during the quarter. Raymond James Trust N.A.’s holdings in Global Payments were worth $1,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in shares of Global Payments during the first quarter valued at approximately $166,000. Canada Pension Plan Investment Board boosted its holdings in shares of Global Payments by 62.5% during the first quarter. Canada Pension Plan Investment Board now owns 285,954 shares of the business services provider’s stock worth $38,221,000 after purchasing an additional 109,999 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Global Payments during the first quarter worth $1,240,000. LRI Investments LLC purchased a new stake in shares of Global Payments in the first quarter valued at $32,000. Finally, Earnest Partners LLC increased its stake in Global Payments by 26.4% in the first quarter. Earnest Partners LLC now owns 580,979 shares of the business services provider’s stock valued at $77,654,000 after purchasing an additional 121,465 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. StockNews.com lowered shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada decreased their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group dropped their price objective on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, BMO Capital Markets reduced their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

Global Payments Price Performance

GPN stock opened at $117.08 on Friday. The stock’s 50 day moving average is $105.86 and its two-hundred day moving average is $103.50. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The company has a market capitalization of $29.80 billion, a PE ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.85%. Global Payments’s dividend payout ratio is presently 18.83%.

Global Payments Company 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.