Thematics Asset Management Lowers Holdings in Global Payments Inc. (NYSE:GPN)

Thematics Asset Management reduced its stake in Global Payments Inc. (NYSE:GPN) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,000 shares of the business services provider’s stock after selling 11,710 shares during the period. Thematics Asset Management owned approximately 0.06% of Global Payments worth $15,670,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GPN. Rock Point Advisors LLC raised its holdings in Global Payments by 10.2% in the third quarter. Rock Point Advisors LLC now owns 63,197 shares of the business services provider’s stock worth $6,473,000 after buying an additional 5,837 shares during the last quarter. Goodman Financial Corp raised its holdings in Global Payments by 7.0% in the 3rd quarter. Goodman Financial Corp now owns 120,959 shares of the business services provider’s stock worth $12,388,000 after acquiring an additional 7,864 shares during the last quarter. Patton Albertson Miller Group LLC bought a new position in Global Payments in the 3rd quarter valued at approximately $1,075,000. Bank of Montreal Can increased its holdings in shares of Global Payments by 31.4% in the 3rd quarter. Bank of Montreal Can now owns 1,342,370 shares of the business services provider’s stock worth $135,606,000 after purchasing an additional 320,985 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Global Payments in the third quarter worth $492,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

NYSE:GPN traded down $1.11 during trading hours on Tuesday, reaching $117.47. The stock had a trading volume of 305,970 shares, compared to its average volume of 2,274,450. 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 stock has a market capitalization of $29.89 billion, a PE ratio of 22.33, a PEG ratio of 0.90 and a beta of 0.97. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The company has a 50 day moving average price of $106.01 and a two-hundred day moving average price of $103.50.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. Global Payments’s payout ratio is currently 18.83%.

Analyst Ratings Changes

Several equities research analysts recently commented on GPN shares. KeyCorp reduced their price objective on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Monness Crespi & Hardt lowered their price objective on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Stephens decreased their target price on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Susquehanna reiterated a “positive” rating and set a $147.00 price objective on shares of Global Payments in a research report on Tuesday, September 17th. Finally, Oppenheimer initiated coverage on Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. One 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.57.

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.