Fisher Asset Management LLC Has $4.99 Million Stake in Global Payments Inc. (NYSE:GPN)

Fisher Asset Management LLC decreased its stake in Global Payments Inc. (NYSE:GPN) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,749 shares of the business services provider’s stock after selling 1,371 shares during the quarter. Fisher Asset Management LLC’s holdings in Global Payments were worth $4,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Stanley Capital Management LLC lifted its stake in Global Payments by 18.9% in the second quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock valued at $12,146,000 after buying an additional 20,000 shares during the period. Entropy Technologies LP acquired a new stake in shares of Global Payments during the third quarter worth about $562,000. Massachusetts Financial Services Co. MA raised its position in shares of Global Payments by 65.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after purchasing an additional 785,539 shares during the period. Gradient Investments LLC raised its position in shares of Global Payments by 20.6% during the second quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock worth $16,723,000 after purchasing an additional 29,503 shares during the period. Finally, Poplar Forest Capital LLC acquired a new stake in shares of Global Payments during the third quarter worth about $13,184,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Stock Performance

Shares of NYSE GPN opened at $119.38 on Friday. 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 Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock has a 50 day moving average of $106.41 and a 200-day moving average of $103.78. The company has a market capitalization of $30.38 billion, a P/E ratio of 22.48, a P/E/G ratio of 0.91 and a beta of 0.97.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. Global Payments’s dividend payout ratio is currently 18.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. 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. Stephens dropped their price target on Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. BTIG Research lowered Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. Sanford C. Bernstein lowered Global Payments from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group dropped their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $136.57.

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.