Quantinno Capital Management LP Acquires 23,861 Shares of Global Payments Inc. (NYSE:GPN)

Quantinno Capital Management LP boosted its holdings in Global Payments Inc. (NYSE:GPN) by 344.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,780 shares of the business services provider’s stock after acquiring an additional 23,861 shares during the quarter. Quantinno Capital Management LP’s holdings in Global Payments were worth $3,153,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GPN. Quarry LP lifted its holdings in shares of Global Payments by 121.5% in the third quarter. Quarry LP now owns 1,132 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 621 shares in the last quarter. Royal London Asset Management Ltd. raised its position in Global Payments by 2.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 104,808 shares of the business services provider’s stock valued at $10,734,000 after buying an additional 2,730 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Global Payments during the 3rd quarter valued at $209,000. Invenomic Capital Management LP lifted its stake in Global Payments by 43.2% during the 3rd quarter. Invenomic Capital Management LP now owns 682,257 shares of the business services provider’s stock valued at $69,877,000 after acquiring an additional 205,851 shares in the last quarter. Finally, Investment Management Corp of Ontario boosted its holdings in Global Payments by 46.7% during the 3rd quarter. Investment Management Corp of Ontario now owns 8,480 shares of the business services provider’s stock worth $869,000 after acquiring an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GPN. Jefferies Financial Group lowered their target price on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. 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 report on Wednesday, September 25th. Sanford C. Bernstein downgraded Global Payments from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets cut their price objective on Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.41.

Global Payments Price Performance

Shares of NYSE GPN opened at $116.81 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The stock has a market cap of $29.73 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 0.90 and a beta of 1.00. The stock has a fifty day moving average of $108.39 and a 200-day moving average of $104.19.

Global Payments Announces Dividend

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. 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.