Global Payments Inc. (NYSE:GPN) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,533 shares of the business services provider’s stock after selling 700 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Global Payments were worth $772,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Pzena Investment Management LLC raised its holdings 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 purchasing an additional 4,240,388 shares during the last quarter. Boston Partners raised its stake in shares of Global Payments by 0.3% during the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock valued at $639,967,000 after buying an additional 12,196 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Global Payments by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after buying an additional 193,137 shares during the period. Davis Asset Management L.P. boosted its stake in shares of Global Payments by 18.2% in the second quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock worth $125,710,000 after buying an additional 200,000 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in 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 period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Performance

Shares of Global Payments stock opened at $116.00 on Monday. 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 business’s 50 day moving average price is $105.25 and its 200 day moving average price is $103.28. The company has a market cap of $29.52 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 0.89 and a beta of 0.97. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. 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 payout ratio is 18.83%.

Analyst Ratings Changes

GPN has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. B. Riley dropped their price target on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Monness Crespi & Hardt decreased their price objective on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Barclays dropped their target price on Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Finally, StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and an average price target of $136.50.

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.