Atom Investors LP Invests $1.68 Million in Global Payments Inc. (NYSE:GPN)

Atom Investors LP bought a new position in shares of Global Payments Inc. (NYSE:GPN) in the third quarter, HoldingsChannel reports. The fund bought 16,370 shares of the business services provider’s stock, valued at approximately $1,677,000.

Several other large investors have also recently bought and sold shares of GPN. Erste Asset Management GmbH acquired a new position in shares of Global Payments during the 3rd quarter worth about $2,009,000. White Knight Strategic Wealth Advisors LLC purchased a new stake in Global Payments during the third quarter worth approximately $345,000. Verition Fund Management LLC boosted its holdings in Global Payments by 388.7% in the third quarter. Verition Fund Management LLC now owns 54,692 shares of the business services provider’s stock valued at $5,602,000 after purchasing an additional 43,500 shares in the last quarter. Vinva Investment Management Ltd increased its stake in Global Payments by 1.6% in the third quarter. Vinva Investment Management Ltd now owns 12,215 shares of the business services provider’s stock valued at $1,234,000 after purchasing an additional 187 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Global Payments by 17.0% during the third quarter. Public Sector Pension Investment Board now owns 11,017 shares of the business services provider’s stock worth $1,128,000 after purchasing an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Monness Crespi & Hardt lowered their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. BMO Capital Markets decreased their price objective on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research note on Wednesday, September 25th. Royal Bank of Canada reduced their target price on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. TD Cowen dropped their price target on Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, B. Riley reduced their price objective on 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.41.

Global Payments Trading Down 0.7 %

NYSE:GPN opened at $118.13 on Tuesday. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a fifty day moving average price of $106.57 and a two-hundred day moving average price of $103.76. The stock has a market capitalization of $30.06 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 0.91 and a beta of 0.97.

Global Payments Dividend Announcement

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