MeadowBrook Investment Advisors LLC Decreases Stock Holdings in Global Payments Inc. (NYSE:GPN)

MeadowBrook Investment Advisors LLC trimmed its position in shares of Global Payments Inc. (NYSE:GPN) by 16.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,542 shares of the business services provider’s stock after selling 901 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Global Payments were worth $465,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Pzena Investment Management LLC lifted its position in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after buying an additional 4,240,388 shares during the last quarter. Boston Partners lifted its position in shares of Global Payments by 0.3% during the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock valued at $639,967,000 after buying an additional 12,196 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Global Payments by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after buying an additional 193,137 shares during the last quarter. Davis Asset Management L.P. lifted its position in shares of Global Payments by 18.2% during the second quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock valued at $125,710,000 after buying an additional 200,000 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after buying an additional 755,898 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Stephens decreased their price target on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley decreased their price objective on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Finally, Monness Crespi & Hardt decreased their price objective on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Global Payments has a consensus rating of “Moderate Buy” and an average price target of $136.50.

Global Payments Stock Performance

Shares of NYSE GPN traded up $0.82 during midday trading on Thursday, reaching $116.89. 184,057 shares of the stock were exchanged, compared to its average volume of 2,291,298. The firm has a market cap of $29.75 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 0.89 and a beta of 0.97. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. The firm has a 50-day simple moving average of $104.94 and a two-hundred day simple moving average of $103.43. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. Global Payments’s payout ratio is 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.