Plato Investment Management Ltd Sells 424 Shares of Global Payments Inc. (NYSE:GPN)

Plato Investment Management Ltd trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN) by 3.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 12,087 shares of the business services provider’s stock after selling 424 shares during the period. Plato Investment Management Ltd’s holdings in Global Payments were worth $1,237,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Global Payments by 1.2% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after acquiring an additional 98 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in shares of Global Payments by 27.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock worth $56,000 after acquiring an additional 116 shares during the period. 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 worth $1,121,000 after acquiring an additional 137 shares during the period. Paloma Partners Management Co lifted its holdings in shares of Global Payments by 4.5% during the 1st quarter. Paloma Partners Management Co now owns 3,180 shares of the business services provider’s stock worth $425,000 after acquiring an additional 138 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Global Payments by 59.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after acquiring an additional 143 shares during the period. 89.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GPN. KeyCorp cut their price target on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. B. Riley cut their price target on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. BMO Capital Markets cut their price target 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. Stephens cut their price target on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, TD Cowen cut their price target on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average price target of $136.50.

Global Payments Stock Up 0.1 %

Shares of NYSE:GPN opened at $116.21 on Friday. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The company has a 50 day moving average of $104.94 and a 200-day moving average of $103.43. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $29.57 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 0.89 and a beta of 0.97.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio is currently 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.