Bridgewater Associates LP Reduces Stake in Global Payments Inc. (NYSE:GPN)

Bridgewater Associates LP trimmed its stake in Global Payments Inc. (NYSE:GPN) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 473,515 shares of the business services provider’s stock after selling 22,473 shares during the period. Bridgewater Associates LP owned approximately 0.19% of Global Payments worth $48,497,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPN. Allen Mooney & Barnes Investment Advisors LLC lifted its position 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 acquiring an additional 98 shares during the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of Global Payments by 27.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock worth $56,000 after purchasing an additional 116 shares in the last quarter. Metis Global Partners LLC increased its position in shares of Global Payments by 1.4% during the third quarter. Metis Global Partners LLC now owns 8,257 shares of the business services provider’s stock worth $846,000 after purchasing an additional 116 shares in the last quarter. Archford Capital Strategies LLC lifted its holdings in shares of Global Payments by 1.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider’s stock valued at $1,121,000 after purchasing an additional 137 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Global Payments by 59.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Down 1.0 %

Shares of GPN opened at $117.45 on Wednesday. The firm has a market cap of $29.89 billion, a P/E ratio of 22.12, a PEG ratio of 0.91 and a beta of 0.97. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock’s 50 day moving average is $106.12 and its two-hundred day moving average is $103.56. 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s payout ratio is presently 18.83%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. StockNews.com lowered Global Payments from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Stephens dropped their target price 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. Royal Bank of Canada decreased their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, TD Cowen dropped their price objective on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and an average price target of $136.57.

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.