First National Trust Co Acquires 393 Shares of Global Payments Inc. (NYSE:GPN)

First National Trust Co increased its stake in Global Payments Inc. (NYSE:GPN) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,682 shares of the business services provider’s stock after acquiring an additional 393 shares during the quarter. First National Trust Co’s holdings in Global Payments were worth $3,962,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Pzena Investment Management LLC boosted its stake in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after purchasing an additional 4,240,388 shares in the last quarter. Boston Partners increased its position in shares of Global Payments by 0.3% during the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after purchasing an additional 12,196 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Global Payments by 10.9% during 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 in the last quarter. Davis Asset Management L.P. boosted its holdings in Global Payments by 18.2% in the second quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock worth $125,710,000 after acquiring an additional 200,000 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after acquiring an additional 755,898 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 brokerages have recently weighed in on GPN. JPMorgan Chase & Co. dropped their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Seaport Res Ptn downgraded Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. TD Cowen cut their price target on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. BMO Capital Markets decreased their price objective on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research note on Wednesday, September 25th. Finally, BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. One 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. Based on data from MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Global Payments Stock Performance

Shares of Global Payments stock opened at $115.44 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50 day moving average price is $104.60 and its 200 day moving average price is $103.46. The company has a market cap of $29.38 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 0.85 and a beta of 0.97. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.87%. Global Payments’s payout ratio is 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.