Versor Investments LP Sells 12,284 Shares of Global Payments Inc. (NYSE:GPN)

Versor Investments LP lessened its stake in shares of Global Payments Inc. (NYSE:GPN) by 84.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,241 shares of the business services provider’s stock after selling 12,284 shares during the period. Versor Investments LP’s holdings in Global Payments were worth $230,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC lifted its holdings in Global Payments by 96.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 25,192 shares of the business services provider’s stock worth $2,580,000 after purchasing an additional 12,395 shares during the last quarter. Axxcess Wealth Management LLC acquired a new position in Global Payments during the third quarter valued at approximately $202,000. Legacy Capital Wealth Partners LLC raised its position in shares of Global Payments by 17.1% in the third quarter. Legacy Capital Wealth Partners LLC now owns 4,223 shares of the business services provider’s stock valued at $433,000 after purchasing an additional 616 shares during the period. Covestor Ltd lifted its stake in shares of Global Payments by 116.6% in the third quarter. Covestor Ltd now owns 1,926 shares of the business services provider’s stock worth $197,000 after buying an additional 1,037 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in shares of Global Payments by 0.6% during 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 buying an additional 655 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GPN. Barclays dropped their target price on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. William Blair cut Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 25th. Jefferies Financial Group decreased their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. KeyCorp dropped their price target on Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $136.50.

Global Payments Stock Performance

Global Payments stock opened at $116.00 on Friday. The firm has a market capitalization of $29.52 billion, a P/E ratio of 21.85, a P/E/G ratio of 0.89 and a beta of 0.97. The stock has a fifty day moving average price of $105.25 and a two-hundred day moving average price of $103.46. 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 current ratio of 0.93 and a quick ratio of 0.93.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is currently 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.