Westfield Capital Management Co. LP Boosts Holdings in Global Payments Inc. (NYSE:GPN)

Westfield Capital Management Co. LP lifted its stake in shares of Global Payments Inc. (NYSE:GPN) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,012,588 shares of the business services provider’s stock after buying an additional 73,554 shares during the quarter. Westfield Capital Management Co. LP owned about 0.40% of Global Payments worth $103,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of GPN. Stanley Capital Management LLC grew its holdings in shares of Global Payments by 18.9% during the 2nd quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock worth $12,146,000 after acquiring an additional 20,000 shares during the period. LRI Investments LLC purchased a new stake in Global Payments in the first quarter worth $32,000. Entropy Technologies LP bought a new position in Global Payments in the third quarter worth $562,000. Gradient Investments LLC lifted its position in Global Payments by 20.6% during the second quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock valued at $16,723,000 after buying an additional 29,503 shares during the period. Finally, Poplar Forest Capital LLC bought a new stake in shares of Global Payments during the 3rd quarter valued at $13,184,000. 89.76% of the stock is owned by institutional investors.

Global Payments Price Performance

Shares of GPN stock opened at $117.08 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $105.86 and a two-hundred day simple moving average of $103.50. The stock has a market capitalization of $29.80 billion, a price-to-earnings ratio of 22.05, a P/E/G 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.

Global Payments Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have commented on GPN. JPMorgan Chase & Co. dropped their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. TD Cowen reduced their price objective on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. StockNews.com downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group lowered their price objective on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Monness Crespi & Hardt dropped 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and an average price target 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.