Rockefeller Capital Management L.P. Lowers Position in Global Payments Inc. (NYSE:GPN)

Rockefeller Capital Management L.P. decreased its stake in Global Payments Inc. (NYSE:GPN) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,124 shares of the business services provider’s stock after selling 1,892 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Global Payments were worth $1,346,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Pzena Investment Management LLC increased its holdings in 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 acquiring an additional 4,240,388 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of 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 worth $203,047,000 after purchasing an additional 785,539 shares in the last quarter. AQR Capital Management LLC raised its position in shares of 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 period. D. E. Shaw & Co. Inc. lifted its stake in shares of Global Payments by 316.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock valued at $58,981,000 after buying an additional 463,568 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Global Payments by 171.6% in the 2nd quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock worth $54,279,000 after buying an additional 354,648 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

Global Payments stock opened at $117.83 on Friday. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The company’s 50-day moving average is $108.10 and its 200 day moving average is $104.11. The firm has a market capitalization of $29.99 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 0.90 and a beta of 1.00. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio is currently 18.83%.

Analyst Ratings Changes

GPN has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Susquehanna reissued a “positive” rating and set a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. JPMorgan Chase & Co. cut their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Oppenheimer initiated coverage on shares of Global Payments in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, B. Riley cut their target price on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.