MidWestOne Financial Group Inc. Buys 2,779 Shares of Global Payments Inc. (NYSE:GPN)

MidWestOne Financial Group Inc. lifted its stake in shares of Global Payments Inc. (NYSE:GPN) by 12.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,169 shares of the business services provider’s stock after acquiring an additional 2,779 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Global Payments were worth $2,578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SYM FINANCIAL Corp increased its position in Global Payments by 4.1% during the 3rd quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 97 shares during the period. Allen Mooney & Barnes Investment Advisors LLC increased its holdings in 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 valued at $841,000 after buying an additional 98 shares during the period. Deseret Mutual Benefit Administrators raised its stake 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 buying an additional 116 shares in the last quarter. Metis Global Partners LLC raised its stake 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 buying an additional 116 shares in the last quarter. Finally, Archford Capital Strategies LLC lifted its holdings in 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 buying an additional 137 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

NYSE:GPN opened at $116.81 on Tuesday. The firm’s fifty day moving average is $108.39 and its two-hundred day moving average is $104.19. The firm has a market cap of $29.73 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 0.90 and a beta of 1.00. 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 one year low of $91.60 and a one year high of $141.77.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is 18.83%.

Analysts Set New Price Targets

Several research firms have recently commented on GPN. Susquehanna reissued a “positive” rating and issued a $147.00 price target on shares of Global Payments in a research report on Tuesday, September 17th. Jefferies Financial Group reduced 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. Oppenheimer assumed coverage on shares of Global Payments in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Sanford C. Bernstein lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $135.00 to $112.00 in a research note on Tuesday, October 22nd. Finally, KeyCorp lowered their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.41.

Global Payments Company 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.