Summit Trail Advisors LLC Has $386,000 Stake in Global Payments Inc. (NYSE:GPN)

Summit Trail Advisors LLC lifted its stake in shares of Global Payments Inc. (NYSE:GPN) by 9.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,769 shares of the business services provider’s stock after acquiring an additional 334 shares during the period. Summit Trail Advisors LLC’s holdings in Global Payments were worth $386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in shares of Global Payments during the first quarter valued at about $31,000. LRI Investments LLC bought a new stake in Global Payments in the 1st quarter valued at about $32,000. Cromwell Holdings LLC acquired a new position in Global Payments during the 3rd quarter worth approximately $25,000. Capital Performance Advisors LLP bought a new position in Global Payments in the third quarter worth approximately $33,000. Finally, POM Investment Strategies LLC acquired a new stake in Global Payments in the second quarter valued at approximately $32,000. 89.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GPN shares. Royal Bank of Canada lowered their target price on Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. StockNews.com downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets reduced their price objective on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. KeyCorp decreased 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 report on Wednesday, September 25th. Finally, Stephens dropped their price target on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.57.

Global Payments Trading Down 1.0 %

NYSE:GPN opened at $117.45 on Wednesday. The firm’s 50 day moving average is $106.12 and its 200 day moving average is $103.56. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock has a market capitalization of $29.89 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Announces Dividend

The company 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. 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 0.85%. Global Payments’s dividend payout ratio is presently 18.83%.

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.