Bamco Inc. NY Sells 400 Shares of Global Payments Inc. (NYSE:GPN)

Bamco Inc. NY cut its position in Global Payments Inc. (NYSE:GPN) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,000 shares of the business services provider’s stock after selling 400 shares during the period. Bamco Inc. NY’s holdings in Global Payments were worth $819,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its stake in Global Payments by 3.4% in the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after acquiring an additional 215,399 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Global Payments by 65.6% in the 3rd 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 last quarter. Dimensional Fund Advisors LP lifted its stake in Global Payments by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after purchasing an additional 193,137 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Global Payments by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider’s stock worth $157,885,000 after purchasing an additional 44,296 shares during the period. Finally, Bank of Montreal Can increased its position in Global Payments by 31.4% during the third quarter. Bank of Montreal Can now owns 1,342,370 shares of the business services provider’s stock worth $135,606,000 after buying an additional 320,985 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Performance

NYSE GPN opened at $118.25 on Wednesday. The firm’s 50 day simple moving average is $107.01 and its 200 day simple moving average is $103.89. The firm has a market capitalization of $30.09 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 0.91 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 Inc. has a 1 year low of $91.60 and a 1 year high of $141.77.

Global Payments Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.85%. Global Payments’s payout ratio is 18.83%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley reduced their target price on Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Susquehanna reaffirmed a “positive” rating and set a $147.00 price objective on shares of Global Payments in a research report on Tuesday, September 17th. Jefferies Financial Group dropped their price objective on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. BMO Capital Markets reduced their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. Finally, Barclays lowered their price target on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and a consensus 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.