Global Payments Inc. (NYSE:GPN) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC boosted its holdings in shares of Global Payments Inc. (NYSE:GPN) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,892 shares of the business services provider’s stock after buying an additional 165 shares during the period. Townsquare Capital LLC’s holdings in Global Payments were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pzena Investment Management LLC grew its holdings in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after buying an additional 4,240,388 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Global Payments by 65.6% during 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 acquiring an additional 785,539 shares during the period. AQR Capital Management LLC grew its stake in Global Payments by 188.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after purchasing an additional 755,898 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Global Payments by 316.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock valued at $58,981,000 after purchasing an additional 463,568 shares during the period. Finally, Squarepoint Ops LLC raised its stake in shares of Global Payments by 171.6% in the second quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock worth $54,279,000 after purchasing an additional 354,648 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Price Performance

NYSE:GPN opened at $115.85 on Friday. The firm has a market cap of $29.48 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The stock has a 50 day moving average of $107.76 and a two-hundred day moving average of $104.06. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 13th. Global Payments’s payout ratio is 18.83%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen cut their price target on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a report on Monday. B. Riley reduced their target price on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Jefferies Financial Group lowered their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Monness Crespi & Hardt cut their price target 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 equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.41.

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.