Global Payments Inc. (NYSE:GPN) Shares Sold by Mendota Financial Group LLC

Mendota Financial Group LLC cut its holdings in shares of Global Payments Inc. (NYSE:GPN) by 46.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 337 shares of the business services provider’s stock after selling 294 shares during the quarter. Mendota Financial Group LLC’s holdings in Global Payments were worth $38,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cromwell Holdings LLC acquired a new stake in shares of Global Payments in the third quarter valued at $25,000. Beaird Harris Wealth Management LLC purchased a new position in shares of Global Payments in the 3rd quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new position in shares of Global Payments in the 3rd quarter valued at about $33,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after buying an additional 143 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in Global Payments in the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity

In other news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the purchase, the director now directly owns 42,738 shares of the company’s stock, valued at $4,957,608. This represents a 15.70 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of 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 dropped their price objective on Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Monness Crespi & Hardt lowered their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Sanford C. Bernstein cut shares of Global Payments from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $135.00 to $112.00 in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $135.71.

Global Payments Stock Performance

NYSE:GPN opened at $106.75 on Tuesday. 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 Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The firm’s fifty day simple moving average is $114.22 and its 200-day simple moving average is $106.88. The stock has a market cap of $27.17 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 0.88 and a beta of 1.00.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.25 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

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.