Chartwell Investment Partners LLC Cuts Holdings in Global Payments Inc. (NYSE:GPN)

Chartwell Investment Partners LLC trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN) by 9.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,127 shares of the business services provider’s stock after selling 3,340 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Global Payments were worth $3,393,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC lifted its stake in shares of Global Payments by 96.9% during the third quarter. Los Angeles Capital Management LLC now owns 25,192 shares of the business services provider’s stock worth $2,580,000 after buying an additional 12,395 shares during the period. Axxcess Wealth Management LLC purchased a new stake in Global Payments during the 3rd quarter valued at about $202,000. Legacy Capital Wealth Partners LLC grew its stake in Global Payments by 17.1% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 4,223 shares of the business services provider’s stock valued at $433,000 after acquiring an additional 616 shares in the last quarter. Covestor Ltd boosted its holdings in Global Payments by 116.6% in the 3rd quarter. Covestor Ltd now owns 1,926 shares of the business services provider’s stock valued at $197,000 after purchasing an additional 1,037 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in shares of Global Payments by 0.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 118,183 shares of the business services provider’s stock worth $12,104,000 after acquiring an additional 655 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Up 0.8 %

Shares of NYSE GPN opened at $116.36 on Wednesday. The stock has a market cap of $29.61 billion, a PE ratio of 21.91, a PEG ratio of 0.85 and a beta of 0.97. The business has a fifty day moving average of $104.69 and a two-hundred day moving average of $103.40. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 dividend on an annualized basis and a dividend yield of 0.86%. Global Payments’s dividend payout ratio is 18.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. KeyCorp reduced their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley reduced their price objective on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Jefferies Financial Group reduced their price objective on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, BTIG Research downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.50.

Global Payments Company 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.