Truvestments Capital LLC Decreases Stake in Global Payments Inc. (NYSE:GPN)

Truvestments Capital LLC decreased its holdings in Global Payments Inc. (NYSE:GPN) by 9.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,582 shares of the business services provider’s stock after selling 378 shares during the period. Truvestments Capital LLC’s holdings in Global Payments were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pzena Investment Management LLC raised its stake in shares of Global Payments by 194.2% in the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after acquiring an additional 4,240,388 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Global Payments by 65.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after purchasing an additional 785,539 shares in the last quarter. AQR Capital Management LLC raised its position in Global Payments by 188.1% in the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after purchasing an additional 755,898 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of Global Payments by 316.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock worth $58,981,000 after purchasing an additional 463,568 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Global Payments by 171.6% during the second quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock worth $54,279,000 after purchasing an additional 354,648 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPN has been the topic of several analyst reports. Morgan Stanley dropped their target price on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. StockNews.com lowered shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. KeyCorp lowered 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. Finally, Barclays cut their price objective on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average target price of $136.57.

Global Payments Stock Performance

Global Payments stock opened at $118.56 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The company has a fifty day moving average price of $106.01 and a two-hundred day moving average price of $103.50. The company has a market cap of $30.17 billion, a PE ratio of 22.33, a P/E/G ratio of 0.90 and a beta of 0.97.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. 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.