Integrated Wealth Concepts LLC Invests $209,000 in Global Payments Inc. (NYSE:GPN)

Integrated Wealth Concepts LLC acquired a new stake in Global Payments Inc. (NYSE:GPN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,044 shares of the business services provider’s stock, valued at approximately $209,000.

Several other large investors have also recently added to or reduced their stakes in the business. Stanley Capital Management LLC grew its stake in shares of Global Payments by 18.9% in the second quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock worth $12,146,000 after acquiring an additional 20,000 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Global Payments by 65.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after purchasing an additional 785,539 shares during the period. Entropy Technologies LP purchased a new stake in Global Payments during the 3rd quarter worth about $562,000. Poplar Forest Capital LLC purchased a new stake in Global Payments during the 3rd quarter worth about $13,184,000. Finally, River Road Asset Management LLC increased its holdings in Global Payments by 158.6% during the 3rd quarter. River Road Asset Management LLC now owns 491,331 shares of the business services provider’s stock worth $50,322,000 after purchasing an additional 301,358 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Down 1.1 %

Global Payments stock opened at $114.24 on Friday. The stock has a 50 day moving average of $109.75 and a two-hundred day moving average of $104.53. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. The stock has a market capitalization of $29.07 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 0.90 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The business 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio is presently 18.83%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday. Monness Crespi & Hardt lowered their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Sanford C. Bernstein lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $135.00 to $112.00 in a report on Tuesday, October 22nd. BTIG Research downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Finally, William Blair downgraded Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and an average price target of $137.41.

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.