Global Payments Inc. (NYSE:GPN) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in shares of Global Payments Inc. (NYSE:GPN) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,499,729 shares of the business services provider’s stock after buying an additional 83,481 shares during the period. Franklin Resources Inc. owned approximately 2.16% of Global Payments worth $564,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pzena Investment Management LLC increased its holdings in shares of Global Payments by 3.4% during the third 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 in the last quarter. Geode Capital Management LLC grew its position in Global Payments by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock worth $605,078,000 after purchasing an additional 31,934 shares during the last quarter. Janus Henderson Group PLC grew its position in Global Payments by 22.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock worth $271,090,000 after purchasing an additional 490,411 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Global Payments by 65.6% during 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 purchasing an additional 785,539 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Global Payments by 10.9% in the second 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 during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Stock Down 1.1 %

Global Payments stock opened at $114.24 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $29.07 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 0.90 and a beta of 1.00. The business has a 50 day simple moving average of $109.75 and a 200-day simple moving average of $104.53. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77.

Global Payments Dividend Announcement

The business 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. This represents a $1.00 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, December 13th. Global Payments’s payout ratio is presently 18.83%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GPN. JPMorgan Chase & Co. dropped their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. TD Cowen dropped their price target on Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. B. Riley reduced their price objective on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Susquehanna reaffirmed a “positive” rating and set a $147.00 target price on shares of Global Payments in a report on Tuesday, September 17th. Finally, BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and an average target price of $137.41.

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.