Caprock Group LLC Sells 1,026 Shares of Global Payments Inc. (NYSE:GPN)

Caprock Group LLC reduced its stake in Global Payments Inc. (NYSE:GPN) by 32.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,107 shares of the business services provider’s stock after selling 1,026 shares during the quarter. Caprock Group LLC’s holdings in Global Payments were worth $216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPN. Acadian Asset Management LLC bought a new stake in Global Payments in the 1st quarter valued at about $166,000. LRI Investments LLC bought a new stake in shares of Global Payments during the first quarter valued at approximately $32,000. Invenomic Capital Management LP raised its position in shares of Global Payments by 42.4% during the first quarter. Invenomic Capital Management LP now owns 207,626 shares of the business services provider’s stock worth $27,751,000 after purchasing an additional 61,801 shares during the period. Interval Partners LP bought a new position in shares of Global Payments in the 1st quarter worth $2,005,000. Finally, Dynasty Wealth Management LLC acquired a new stake in Global Payments in the 1st quarter valued at $1,160,000. 89.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. William Blair downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. Susquehanna restated a “positive” rating and issued a $147.00 target price on shares of Global Payments in a report on Tuesday, September 17th. Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Jefferies Financial Group lowered their price objective on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their target price 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Global Payments has an average rating of “Moderate Buy” and a consensus target price of $136.57.

Global Payments Trading Up 0.6 %

Shares of Global Payments stock opened at $117.08 on Monday. The stock has a market capitalization of $29.80 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. 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 stock’s 50-day simple moving average is $105.86 and its 200 day simple moving average is $103.45.

Global Payments Announces Dividend

The business 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is presently 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.