Westfield Capital Management Co. LP Purchases 73,554 Shares of Global Payments Inc. (NYSE:GPN)

Westfield Capital Management Co. LP increased its position in shares of Global Payments Inc. (NYSE:GPN) by 7.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,012,588 shares of the business services provider’s stock after acquiring an additional 73,554 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Global Payments were worth $103,709,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allen Mooney & Barnes Investment Advisors LLC increased its position in shares of Global Payments by 1.2% during 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 purchasing an additional 98 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Global Payments by 27.2% in the third 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 in the last quarter. Metis Global Partners LLC boosted its holdings in Global Payments by 1.4% in the third 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 grew its stake in shares of Global Payments by 1.2% during the second quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider’s stock worth $1,121,000 after acquiring an additional 137 shares during the last quarter. Finally, Paloma Partners Management Co increased its holdings in shares of Global Payments by 4.5% during the first quarter. Paloma Partners Management Co now owns 3,180 shares of the business services provider’s stock valued at $425,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

Global Payments stock opened at $117.08 on Friday. 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 company’s fifty day moving average price is $105.86 and its 200 day moving average price is $103.50. The stock has a market capitalization of $29.80 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77.

Global Payments Announces Dividend

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

Analyst Upgrades and Downgrades

GPN has been the topic of several research analyst reports. Monness Crespi & Hardt dropped their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Jefferies Financial Group dropped their price objective on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. 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 note on Wednesday, September 25th. 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, BNP Paribas upgraded Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and a consensus target price of $136.57.

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.