Thematics Asset Management Reduces Holdings in Global Payments Inc. (NYSE:GPN)

Thematics Asset Management lowered its position in Global Payments Inc. (NYSE:GPN) by 7.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 153,000 shares of the business services provider’s stock after selling 11,710 shares during the period. Thematics Asset Management’s holdings in Global Payments were worth $15,670,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GPN. Pzena Investment Management LLC raised its position in Global Payments by 194.2% in 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 purchasing an additional 4,240,388 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Global Payments by 65.6% in 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 buying an additional 785,539 shares during the period. AQR Capital Management LLC lifted its stake in shares of Global Payments by 188.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after acquiring an additional 755,898 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Global Payments by 316.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock valued at $58,981,000 after acquiring an additional 463,568 shares during the period. Finally, Squarepoint Ops LLC grew its position in Global Payments by 171.6% in the 2nd quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock valued at $54,279,000 after acquiring an additional 354,648 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

Shares of NYSE:GPN traded down $1.11 during midday trading on Tuesday, reaching $117.47. The company’s stock had a trading volume of 305,970 shares, compared to its average volume of 2,274,450. 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 stock has a fifty day moving average of $106.01 and a 200 day moving average of $103.50. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. The firm has a market capitalization of $29.89 billion, a PE ratio of 22.33, a P/E/G ratio of 0.90 and a beta of 0.97.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio is currently 18.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. BMO Capital Markets reduced their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 25th. Monness Crespi & Hardt decreased their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Morgan Stanley reduced their price objective on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, KeyCorp reduced their price target on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned 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 $136.57.

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.