Plato Investment Management Ltd Has $1.24 Million Position in Global Payments Inc. (NYSE:GPN)

Plato Investment Management Ltd lowered its position in shares of Global Payments Inc. (NYSE:GPN) by 3.4% in the third quarter, Holdings Channel reports. The firm owned 12,087 shares of the business services provider’s stock after selling 424 shares during the period. Plato Investment Management Ltd’s holdings in Global Payments were worth $1,237,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in Global Payments during the first quarter valued at approximately $31,000. LRI Investments LLC bought a new position in Global Payments in the first quarter valued at approximately $32,000. Cromwell Holdings LLC bought a new position in Global Payments in the third quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new position in Global Payments in the third quarter valued at approximately $33,000. Finally, POM Investment Strategies LLC bought a new position in Global Payments in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GPN shares. Royal Bank of Canada cut their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Susquehanna reaffirmed a “positive” rating and issued a $147.00 price target on shares of Global Payments in a research note on Tuesday, September 17th. JPMorgan Chase & Co. cut their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Morgan Stanley cut their price objective on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Finally, Oppenheimer assumed coverage on shares of Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Global Payments Price Performance

NYSE:GPN opened at $116.21 on Friday. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The company has a market cap of $29.57 billion, a P/E ratio of 21.89, a P/E/G ratio of 0.89 and a beta of 0.97. The firm’s fifty day moving average price is $104.94 and its two-hundred day moving average price is $103.43. 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 Announces Dividend

The business also recently disclosed 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%.

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.