First Citizens Bank & Trust Co. trimmed its position in Global Payments Inc (NYSE:GPN) by 11.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,241 shares of the business services provider’s stock after selling 1,237 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Global Payments were worth $1,641,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of GPN. Juncture Wealth Strategies LLC acquired a new position in shares of Global Payments during the 3rd quarter worth approximately $415,000. Vigilant Capital Management LLC acquired a new position in shares of Global Payments during the 3rd quarter worth approximately $16,335,000. Addenda Capital Inc. boosted its holdings in shares of Global Payments by 149.6% during the 3rd quarter. Addenda Capital Inc. now owns 10,943 shares of the business services provider’s stock worth $1,944,000 after purchasing an additional 6,559 shares during the last quarter. Coastline Trust Co boosted its holdings in shares of Global Payments by 5.4% during the 3rd quarter. Coastline Trust Co now owns 17,205 shares of the business services provider’s stock worth $3,055,000 after purchasing an additional 875 shares during the last quarter. Finally, FormulaFolio Investments LLC raised its position in shares of Global Payments by 28.5% during the 3rd quarter. FormulaFolio Investments LLC now owns 3,219 shares of the business services provider’s stock valued at $572,000 after buying an additional 713 shares during the period. Institutional investors own 86.81% of the company’s stock.
NYSE:GPN opened at $177.06 on Friday. The firm has a market cap of $52.98 billion, a P/E ratio of 119.64, a PEG ratio of 1.51 and a beta of 1.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $176.20 and its 200-day simple moving average is $169.72. Global Payments Inc has a 12-month low of $105.54 and a 12-month high of $209.62.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were given a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.44%. The ex-dividend date was Wednesday, September 9th. Global Payments’s payout ratio is 13.31%.
A number of research firms have commented on GPN. Morgan Stanley upped their price target on Global Payments from $161.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Royal Bank of Canada reissued a “buy” rating on shares of Global Payments in a research report on Tuesday, July 21st. Raymond James reissued a “buy” rating and set a $206.00 price objective on shares of Global Payments in a research report on Monday, October 5th. Sanford C. Bernstein assumed coverage on Global Payments in a research report on Tuesday, August 18th. They set an “outperform” rating and a $201.00 price objective for the company. Finally, Guggenheim raised their price objective on Global Payments from $191.00 to $212.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Six analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Global Payments currently has a consensus rating of “Buy” and a consensus target price of $201.59.
In other news, Director William I. Jacobs sold 7,224 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $174.90, for a total value of $1,263,477.60. Following the completion of the transaction, the director now owns 32,117 shares in the company, valued at approximately $5,617,263.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William I. Jacobs sold 500 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $175.16, for a total transaction of $87,580.00. Following the completion of the transaction, the director now owns 23,893 shares of the company’s stock, valued at approximately $4,185,097.88. The disclosure for this sale can be found here. Insiders sold a total of 8,224 shares of company stock valued at $1,436,788 in the last quarter. Insiders own 0.88% of the company’s stock.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
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