Bank of Montreal Can Raises Position in Global Payments Inc. (NYSE:GPN)

Bank of Montreal Can grew its position in shares of Global Payments Inc. (NYSE:GPN) by 31.4% during the third quarter, Holdings Channel reports. The fund owned 1,342,370 shares of the business services provider’s stock after purchasing an additional 320,985 shares during the period. Bank of Montreal Can’s holdings in Global Payments were worth $135,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GPN. Acadian Asset Management LLC bought a new stake in shares of Global Payments during the first quarter valued at approximately $166,000. LRI Investments LLC purchased a new position in Global Payments during the first quarter valued at $32,000. Interval Partners LP bought a new stake in shares of Global Payments during the 1st quarter valued at $2,005,000. B. Riley Wealth Advisors Inc. grew its position in shares of Global Payments by 9.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,139 shares of the business services provider’s stock worth $1,222,000 after buying an additional 782 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its position in shares of Global Payments by 9.9% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 4,760 shares of the business services provider’s stock worth $636,000 after buying an additional 430 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GPN shares. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. StockNews.com cut Global Payments from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Monness Crespi & Hardt reduced their price objective on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. B. Riley dropped their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, Barclays reduced their price target on Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.57.

Global Payments Stock Up 1.3 %

GPN stock opened at $118.56 on Tuesday. The company has a market cap of $30.17 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 0.90 and a beta of 0.97. 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 is $106.01 and its two-hundred day moving average is $103.50. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments Announces Dividend

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s payout ratio is 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.