Apollon Wealth Management LLC Lowers Holdings in Global Payments Inc. (NYSE:GPN)

Apollon Wealth Management LLC decreased its position in Global Payments Inc. (NYSE:GPN) by 7.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,371 shares of the business services provider’s stock after selling 365 shares during the period. Apollon Wealth Management LLC’s holdings in Global Payments were worth $448,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cromwell Holdings LLC purchased a new stake in shares of Global Payments in the third quarter valued at approximately $25,000. New Covenant Trust Company N.A. purchased a new stake in Global Payments during the first quarter worth $31,000. LRI Investments LLC purchased a new stake in Global Payments during the first quarter worth $32,000. POM Investment Strategies LLC purchased a new stake in Global Payments during the second quarter worth $32,000. Finally, Capital Performance Advisors LLP purchased a new stake in Global Payments during the third quarter worth $33,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Trading Down 0.2 %

Global Payments stock opened at $116.00 on Monday. The firm has a market cap of $29.52 billion, a PE ratio of 21.85, a P/E/G ratio of 0.89 and a beta of 0.97. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock’s 50 day simple moving average is $105.25 and its two-hundred day simple moving average is $103.28. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GPN shares. Oppenheimer started coverage on Global Payments in a report on Tuesday, October 1st. They set a “market perform” rating for the company. TD Cowen lowered their target price on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Monness Crespi & Hardt reduced their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. KeyCorp reduced 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, Sanford C. Bernstein downgraded Global Payments from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.50.

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.