Los Angeles Capital Management LLC Purchases 12,395 Shares of Global Payments Inc. (NYSE:GPN)

Los Angeles Capital Management LLC increased its position in Global Payments Inc. (NYSE:GPN) by 96.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,192 shares of the business services provider’s stock after purchasing an additional 12,395 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Global Payments were worth $2,580,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pzena Investment Management LLC lifted its holdings in shares of Global Payments by 194.2% during the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after acquiring an additional 4,240,388 shares during the period. Boston Partners boosted its holdings in Global Payments by 0.3% during the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock valued at $639,967,000 after purchasing an additional 12,196 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Global Payments by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock worth $189,307,000 after buying an additional 193,137 shares in the last quarter. Davis Asset Management L.P. raised its holdings in shares of Global Payments by 18.2% in the 2nd quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock worth $125,710,000 after buying an additional 200,000 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Global Payments by 188.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after buying an additional 755,898 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. William Blair cut Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. TD Cowen decreased their price objective on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Royal Bank of Canada cut their target price on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. BNP Paribas raised Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. Finally, Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $136.50.

Global Payments Stock Performance

GPN stock opened at $116.36 on Wednesday. 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. The company has a market cap of $29.61 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The business’s fifty day moving average is $104.69 and its 200-day moving average is $103.40.

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s payout ratio is 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.