Zurcher Kantonalbank Zurich Cantonalbank Buys 11,430 Shares of Global Payments Inc. (NYSE:GPN)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Global Payments Inc. (NYSE:GPN) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,799 shares of the business services provider’s stock after purchasing an additional 11,430 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Global Payments were worth $11,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GPN. Allen Mooney & Barnes Investment Advisors LLC raised its stake in Global Payments by 1.2% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after buying an additional 98 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of Global Payments by 27.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock worth $56,000 after acquiring an additional 116 shares during the period. Metis Global Partners LLC raised its position in shares of Global Payments by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 8,257 shares of the business services provider’s stock worth $846,000 after acquiring an additional 116 shares in the last quarter. Archford Capital Strategies LLC lifted its stake in shares of Global Payments by 1.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider’s stock valued at $1,121,000 after purchasing an additional 137 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 143 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GPN shares. BTIG Research lowered Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. Royal Bank of Canada lowered their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Oppenheimer initiated coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Seaport Res Ptn lowered shares of Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. cut their price target on 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 analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average price target of $136.57.

Global Payments Price Performance

NYSE GPN opened at $118.96 on Friday. 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 1-year low of $91.60 and a 1-year high of $141.77. The stock has a market capitalization of $30.27 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 0.91 and a beta of 0.97. The business’s fifty day moving average price is $106.57 and its 200-day moving average price is $103.80.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.84%. Global Payments’s payout ratio is 18.83%.

Global Payments 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.