White Knight Strategic Wealth Advisors LLC Invests $345,000 in Global Payments Inc. (NYSE:GPN)

White Knight Strategic Wealth Advisors LLC purchased a new stake in Global Payments Inc. (NYSE:GPN) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,368 shares of the business services provider’s stock, valued at approximately $345,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GPN. Pzena Investment Management LLC increased its holdings in shares of Global Payments by 3.4% in the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after purchasing an additional 215,399 shares during the period. Massachusetts Financial Services Co. MA grew its position 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 buying an additional 785,539 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Global Payments by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after buying an additional 193,137 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Global Payments by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider’s stock valued at $157,885,000 after buying an additional 44,296 shares during the period. Finally, Bank of Montreal Can raised its position in Global Payments by 31.4% during the 3rd quarter. Bank of Montreal Can now owns 1,342,370 shares of the business services provider’s stock worth $135,606,000 after buying an additional 320,985 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Oppenheimer began coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Monness Crespi & Hardt cut their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Morgan Stanley decreased their price target on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. StockNews.com cut Global Payments from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reduced their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $136.57.

Global Payments Trading Down 0.4 %

Shares of GPN stock opened at $118.96 on Friday. The company has a market capitalization of $30.27 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 0.91 and a beta of 0.97. 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 firm has a 50-day moving average price of $106.57 and a 200 day moving average price of $103.84. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio is presently 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.