Sheaff Brock Investment Advisors LLC Sells 900 Shares of Global Payments Inc. (NYSE:GPN)

Sheaff Brock Investment Advisors LLC lessened its position in Global Payments Inc. (NYSE:GPN) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,001 shares of the business services provider’s stock after selling 900 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Global Payments were worth $512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stanley Capital Management LLC increased its holdings in Global Payments by 18.9% in the 2nd quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock worth $12,146,000 after purchasing an additional 20,000 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Global Payments by 12.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock valued at $35,775,000 after buying an additional 29,289 shares during the period. LRI Investments LLC acquired a new stake in shares of Global Payments in the first quarter valued at about $32,000. Gradient Investments LLC increased its stake in shares of Global Payments by 20.6% in the second quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock valued at $16,723,000 after buying an additional 29,503 shares during the period. Finally, Poplar Forest Capital LLC acquired a new stake in shares of Global Payments in the third quarter valued at about $13,184,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Trading Down 0.2 %

Shares of GPN opened at $116.00 on Friday. The business’s 50-day moving average price is $105.25 and its 200-day moving average price is $103.46. The stock has a market cap 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 twelve month low of $91.60 and a twelve month high of $141.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. Global Payments’s dividend payout ratio (DPR) is currently 18.83%.

Wall Street Analysts Forecast Growth

GPN has been the topic of several research analyst reports. B. Riley cut their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a report on Tuesday. TD Cowen cut their price target on Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Monness Crespi & Hardt cut their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, Susquehanna reiterated a “positive” rating and issued a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.50.

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.