Quest Partners LLC Sells 1,147 Shares of Global Payments Inc. (NYSE:GPN)

Quest Partners LLC decreased its stake in Global Payments Inc. (NYSE:GPN) by 48.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,205 shares of the business services provider’s stock after selling 1,147 shares during the period. Quest Partners LLC’s holdings in Global Payments were worth $123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its stake in Global Payments by 9.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,139 shares of the business services provider’s stock worth $1,222,000 after purchasing an additional 782 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Global Payments by 3.8% during the first quarter. Tidal Investments LLC now owns 17,827 shares of the business services provider’s stock valued at $2,373,000 after buying an additional 648 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Global Payments in the first quarter worth about $32,000. Swedbank AB purchased a new position in shares of Global Payments in the first quarter worth about $4,576,000. Finally, PGGM Investments purchased a new position in Global Payments in the 1st quarter worth approximately $489,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. B. Riley cut their target price on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. BTIG Research cut shares of Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada lowered their price objective on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.57.

Global Payments Stock Performance

Shares of GPN stock opened at $119.38 on Friday. The firm has a market capitalization of $30.38 billion, a PE ratio of 22.48, a P/E/G ratio of 0.91 and a beta of 0.97. The company has a 50 day moving average price of $106.41 and a 200-day moving average price of $103.78. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. 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 company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. Global Payments’s dividend payout ratio (DPR) is currently 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.