Kentucky Retirement Systems Insurance Trust Fund Sells 700 Shares of Global Payments Inc. (NYSE:GPN)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in Global Payments Inc. (NYSE:GPN) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,533 shares of the business services provider’s stock after selling 700 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Global Payments were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in shares of Global Payments in the first quarter valued at $31,000. LRI Investments LLC purchased a new position in shares of Global Payments in the 1st quarter worth $32,000. Cromwell Holdings LLC bought a new stake in shares of Global Payments in the 3rd quarter worth about $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Global Payments during the 3rd quarter valued at about $33,000. Finally, POM Investment Strategies LLC bought a new position in shares of Global Payments in the 2nd quarter valued at about $32,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays reduced their price objective on Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Oppenheimer began coverage on Global Payments in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. B. Riley cut their price objective on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and an average target price of $136.50.

Global Payments Trading Down 0.2 %

Shares of NYSE:GPN opened at $116.00 on Monday. The company has a market capitalization of $29.52 billion, a PE ratio of 21.85, a P/E/G ratio of 0.89 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 company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $105.25 and its 200-day simple moving average is $103.28.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 0.86%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

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.