Cardinal Capital Management Inc. Reduces Stock Position in Global Payments Inc. (NYSE:GPN)

Cardinal Capital Management Inc. reduced its holdings in shares of Global Payments Inc. (NYSE:GPN) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 92,251 shares of the business services provider’s stock after selling 8,085 shares during the period. Cardinal Capital Management Inc.’s holdings in Global Payments were worth $10,338,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in shares of Global Payments by 22.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 31,545 shares of the business services provider’s stock worth $3,535,000 after purchasing an additional 5,715 shares during the last quarter. Red Spruce Capital LLC raised its position in shares of Global Payments by 1.6% during the 4th quarter. Red Spruce Capital LLC now owns 22,766 shares of the business services provider’s stock valued at $2,551,000 after acquiring an additional 350 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Global Payments by 770.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,819 shares of the business services provider’s stock worth $316,000 after purchasing an additional 2,495 shares during the period. Ellsworth Advisors LLC bought a new stake in Global Payments during the fourth quarter valued at $4,572,000. Finally, Lbmc Investment Advisors LLC acquired a new stake in shares of Global Payments during the fourth quarter worth $204,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GPN. Royal Bank of Canada decreased their target price on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Monness Crespi & Hardt dropped their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. B. Riley reduced their price target on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Finally, BMO Capital Markets reduced their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $135.71.

Global Payments Trading Down 0.0 %

Global Payments stock opened at $108.52 on Thursday. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The firm’s 50 day moving average price is $113.57 and its two-hundred day moving average price is $107.40. The firm has a market cap of $27.62 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 0.78 and a beta of 1.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Friday, December 13th. Global Payments’s dividend payout ratio is presently 18.83%.

Insider Buying and Selling

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the acquisition, the director now owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.98% of the company’s stock.

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.