Goodman Financial Corp Buys 7,864 Shares of Global Payments Inc. (NYSE:GPN)

Goodman Financial Corp grew its position in shares of Global Payments Inc. (NYSE:GPN) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,959 shares of the business services provider’s stock after buying an additional 7,864 shares during the quarter. Global Payments accounts for approximately 2.8% of Goodman Financial Corp’s holdings, making the stock its 20th largest position. Goodman Financial Corp’s holdings in Global Payments were worth $12,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stanley Capital Management LLC grew its position in Global Payments by 18.9% during the second quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock valued at $12,146,000 after buying an additional 20,000 shares during the period. LRI Investments LLC bought a new stake in shares of Global Payments during the 1st quarter valued at $32,000. Entropy Technologies LP bought a new stake in shares of Global Payments during the 3rd quarter valued at $562,000. Massachusetts Financial Services Co. MA increased its stake in shares of Global Payments by 65.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after purchasing an additional 785,539 shares in the last quarter. Finally, Gradient Investments LLC raised its holdings in Global Payments by 20.6% in the 2nd quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock worth $16,723,000 after purchasing an additional 29,503 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Price Performance

GPN stock opened at $118.56 on Tuesday. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The firm has a market capitalization of $30.17 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. The company has a fifty day simple moving average of $106.01 and a two-hundred day simple moving average of $103.50. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Announces Dividend

The firm also recently declared 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 is Friday, December 13th. Global Payments’s payout ratio is 18.83%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GPN. Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays cut their price objective on Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Jefferies Financial Group decreased their target price on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley dropped their price target on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Finally, Susquehanna restated a “positive” rating and set a $147.00 price objective on shares of Global Payments in a research report on Tuesday, September 17th. One 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. According to MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.57.

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.