Global Payments Inc. (GPN) Stake Lessened by Three Peaks Capital Management LLC
Three Peaks Capital Management LLC decreased its holdings in shares of Global Payments Inc. (NYSE:GPN) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,472 shares of the business services provider’s stock after selling 3,189 shares during the period. Global Payments comprises approximately 1.7% of Three Peaks Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Three Peaks Capital Management LLC owned approximately 0.08% of Global Payments worth $11,543,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. LMR Partners LLP purchased a new position in shares of Global Payments during the 3rd quarter valued at approximately $281,000. Norinchukin Bank The raised its stake in Global Payments by 7.3% in the 3rd quarter. Norinchukin Bank The now owns 11,350 shares of the business services provider’s stock valued at $1,079,000 after purchasing an additional 769 shares during the last quarter. ING Groep NV acquired a new position in Global Payments in the 3rd quarter valued at $462,000. Stephens Investment Management Group LLC raised its stake in Global Payments by 97.2% in the 3rd quarter. Stephens Investment Management Group LLC now owns 39,111 shares of the business services provider’s stock valued at $3,717,000 after purchasing an additional 19,275 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in Global Payments by 127.7% in the 3rd quarter. Stephens Inc. AR now owns 3,602 shares of the business services provider’s stock valued at $342,000 after purchasing an additional 2,020 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.
Shares of Global Payments Inc. (GPN) traded down $0.78 on Friday, hitting $102.43. The company’s stock had a trading volume of 659,400 shares, compared to its average volume of 1,116,641. Global Payments Inc. has a twelve month low of $65.91 and a twelve month high of $104.83. The firm has a market cap of $16,300.96, a P/E ratio of 27.53, a PEG ratio of 1.88 and a beta of 1.14. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 14th. Global Payments’s dividend payout ratio (DPR) is presently 2.23%.
In related news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $99.82, for a total transaction of $2,595,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $98.00, for a total value of $58,800.00. Following the sale, the director now directly owns 40,075 shares of the company’s stock, valued at $3,927,350. The disclosure for this sale can be found here. Insiders sold a total of 37,800 shares of company stock valued at $3,750,676 over the last ninety days. Corporate insiders own 0.93% of the company’s stock.
GPN has been the subject of several recent research reports. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $100.00 price objective on shares of Global Payments in a research note on Thursday, August 3rd. Royal Bank Of Canada reduced their price objective on Global Payments from $103.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Barclays PLC increased their price objective on Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Compass Point downgraded Global Payments from a “buy” rating to a “neutral” rating and increased their price objective for the company from $95.72 to $96.00 in a research note on Friday, August 4th. Finally, Wells Fargo & Company raised Global Payments from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $90.00 to $110.00 in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $105.01.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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