Geneva Capital Management LLC Purchases 11,138 Shares of Global Payments Inc. (NYSE:GPN)

Geneva Capital Management LLC lifted its position in shares of Global Payments Inc. (NYSE:GPN) by 8.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,585 shares of the business services provider’s stock after purchasing an additional 11,138 shares during the period. Geneva Capital Management LLC’s holdings in Global Payments were worth $14,706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allen Mooney & Barnes Investment Advisors LLC increased its position in shares of Global Payments by 1.2% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock valued at $841,000 after acquiring an additional 98 shares during the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of Global Payments by 27.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares during the last quarter. Archford Capital Strategies LLC raised its stake in shares of Global Payments by 1.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider’s stock worth $1,121,000 after purchasing an additional 137 shares during the period. Paloma Partners Management Co boosted its holdings in shares of Global Payments by 4.5% in the 1st quarter. Paloma Partners Management Co now owns 3,180 shares of the business services provider’s stock worth $425,000 after buying an additional 138 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Sanford C. Bernstein lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. BTIG Research downgraded Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. TD Cowen decreased their target price on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. B. Riley dropped their price target 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. Finally, BNP Paribas raised Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and an average price target of $136.50.

Global Payments Price Performance

Global Payments stock opened at $116.36 on Wednesday. The business has a 50-day simple moving average of $104.69 and a 200 day simple 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 stock has a market cap of $29.61 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 0.88 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.86%. Global Payments’s payout ratio is presently 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.