Global Payments Inc. (NYSE:GPN) Shares Sold by Bush Investment Group LLC

Bush Investment Group LLC lessened its stake in Global Payments Inc. (NYSE:GPN) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,622 shares of the business services provider’s stock after selling 106 shares during the period. Global Payments accounts for about 0.4% of Bush Investment Group LLC’s holdings, making the stock its 26th biggest position. Bush Investment Group LLC’s holdings in Global Payments were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC increased its position in Global Payments by 3.4% in the 3rd quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after acquiring an additional 215,399 shares during the period. Geode Capital Management LLC increased its position in Global Payments by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock valued at $605,078,000 after acquiring an additional 31,934 shares during the period. Franklin Resources Inc. increased its position in Global Payments by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock valued at $564,437,000 after acquiring an additional 83,481 shares during the period. Janus Henderson Group PLC increased its position in Global Payments by 22.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after acquiring an additional 490,411 shares during the period. Finally, Massachusetts Financial Services Co. MA increased 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 acquiring an additional 785,539 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Trading Down 1.1 %

Shares of GPN opened at $115.77 on Friday. The stock has a fifty day moving average of $109.44 and a two-hundred day moving average of $104.45. 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 company has a market capitalization of $29.46 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 0.90 and a beta of 1.00. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments Dividend Announcement

The firm also recently declared 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 is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.86%. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GPN shares. Sanford C. Bernstein lowered Global Payments from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $135.00 to $112.00 in a report on Tuesday, October 22nd. Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Stephens lowered their price objective on Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $147.00 price objective on shares of Global Payments in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $137.41.

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.