MeadowBrook Investment Advisors LLC Sells 901 Shares of Global Payments Inc. (NYSE:GPN)

MeadowBrook Investment Advisors LLC decreased its position in shares of Global Payments Inc. (NYSE:GPN) by 16.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,542 shares of the business services provider’s stock after selling 901 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Global Payments were worth $465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPN. QRG Capital Management Inc. raised its stake in Global Payments by 11.2% during the 1st quarter. QRG Capital Management Inc. now owns 5,284 shares of the business services provider’s stock worth $706,000 after acquiring an additional 534 shares during the period. US Bancorp DE raised its position in shares of Global Payments by 4.7% during the first quarter. US Bancorp DE now owns 42,342 shares of the business services provider’s stock valued at $5,660,000 after buying an additional 1,911 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Global Payments by 6.5% during the first quarter. Bleakley Financial Group LLC now owns 3,018 shares of the business services provider’s stock valued at $403,000 after buying an additional 185 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Global Payments by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 302,364 shares of the business services provider’s stock valued at $40,414,000 after buying an additional 24,415 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Global Payments by 21.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 311,426 shares of the business services provider’s stock valued at $41,625,000 after buying an additional 55,958 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Stephens reduced their price objective on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Finally, Seaport Res Ptn cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.50.

Global Payments Stock Up 0.7 %

NYSE:GPN traded up $0.82 during mid-day trading on Thursday, reaching $116.89. The company’s stock had a trading volume of 184,057 shares, compared to its average volume of 2,291,298. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The stock has a fifty day moving average of $104.94 and a 200-day moving average of $103.43. The firm has a market capitalization of $29.75 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) 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.