Apollon Wealth Management LLC Sells 365 Shares of Global Payments Inc. (NYSE:GPN)

Apollon Wealth Management LLC decreased its holdings in Global Payments Inc. (NYSE:GPN) by 7.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,371 shares of the business services provider’s stock after selling 365 shares during the period. Apollon Wealth Management LLC’s holdings in Global Payments were worth $448,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pzena Investment Management LLC boosted its stake in shares of Global Payments by 194.2% in the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after buying an additional 4,240,388 shares during the last quarter. Boston Partners boosted its stake in shares of Global Payments by 0.3% in the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after buying an additional 12,196 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake 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 worth $189,307,000 after buying an additional 193,137 shares during the last quarter. Davis Asset Management L.P. boosted its stake in shares of Global Payments by 18.2% in the 2nd 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 boosted its stake in shares of Global Payments by 188.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after buying an additional 755,898 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GPN. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Jefferies Financial Group lowered their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Seaport Res Ptn downgraded Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. BTIG Research downgraded Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. Finally, Monness Crespi & Hardt lowered 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

Global Payments Stock Down 0.2 %

Shares of NYSE:GPN opened at $116.00 on Monday. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The business has a 50 day simple moving average of $105.25 and a two-hundred day simple moving average of $103.28. The firm has a market capitalization of $29.52 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. Global Payments’s dividend payout ratio (DPR) is presently 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.