Summit Trail Advisors LLC Increases Stock Position in Global Payments Inc. (NYSE:GPN)

Summit Trail Advisors LLC boosted its holdings in Global Payments Inc. (NYSE:GPN) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,769 shares of the business services provider’s stock after buying an additional 334 shares during the period. Summit Trail Advisors LLC’s holdings in Global Payments were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. New Covenant Trust Company N.A. purchased a new position in shares of Global Payments in the first quarter valued at $31,000. LRI Investments LLC bought a new position in Global Payments in the 1st quarter worth about $32,000. Cromwell Holdings LLC purchased a new position in Global Payments during the 3rd quarter valued at about $25,000. Capital Performance Advisors LLP bought a new stake in shares of Global Payments during the third quarter valued at about $33,000. Finally, POM Investment Strategies LLC bought a new stake in shares of Global Payments during the second quarter valued at about $32,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GPN shares. Barclays reduced their price objective on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Jefferies Financial Group reduced their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Stephens lowered their price objective on Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. KeyCorp reduced their target price on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Finally, William Blair lowered Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.57.

Global Payments Price Performance

Shares of Global Payments stock opened at $117.45 on Wednesday. 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 Inc. has a one year low of $91.60 and a one year high of $141.77. The business’s 50 day simple moving average is $106.12 and its two-hundred day simple moving average is $103.56. The stock has a market capitalization of $29.89 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97.

Global Payments Announces Dividend

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

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.