Global Payments Inc. (NYSE:GPN) Stake Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Global Payments Inc. (NYSE:GPN) by 1.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 620,391 shares of the business services provider’s stock after selling 6,019 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Global Payments were worth $63,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GPN. Cromwell Holdings LLC acquired a new position in shares of Global Payments during the third quarter valued at $25,000. New Covenant Trust Company N.A. bought a new position in Global Payments in the 1st quarter valued at about $31,000. LRI Investments LLC bought a new stake in shares of Global Payments during the 1st quarter worth about $32,000. POM Investment Strategies LLC acquired a new stake in shares of Global Payments in the 2nd quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Global Payments in the third quarter valued at approximately $33,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Price Performance

GPN opened at $116.21 on Friday. 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. The stock has a fifty day moving average price of $104.94 and a 200 day moving average price of $103.43. The stock has a market cap of $29.57 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 0.89 and a beta of 0.97.

Global Payments Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GPN shares. Stephens dropped their target price on Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. William Blair lowered Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. Royal Bank of Canada lowered their target price on Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. TD Cowen cut their price target on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lowered 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 note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.50.

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.