Retirement Systems of Alabama Has $5.73 Million Holdings in Global Payments Inc. (NYSE:GPN)

Retirement Systems of Alabama reduced its position in Global Payments Inc. (NYSE:GPN) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,908 shares of the business services provider’s stock after selling 398 shares during the quarter. Retirement Systems of Alabama’s holdings in Global Payments were worth $5,726,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC bought a new position in Global Payments in the third quarter valued at approximately $25,000. Franklin Resources Inc. increased its stake in shares of Global Payments by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock valued at $564,437,000 after purchasing an additional 83,481 shares during the last quarter. Peapack Gladstone Financial Corp bought a new position in shares of Global Payments in the 3rd quarter valued at $253,000. Tidal Investments LLC raised its holdings in shares of Global Payments by 0.3% during the 3rd quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock worth $2,760,000 after buying an additional 86 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Global Payments by 24.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 44,394 shares of the business services provider’s stock worth $4,547,000 after buying an additional 8,677 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on GPN shares. Barclays boosted their target price on Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday. William Blair downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 25th. BTIG Research lowered shares of Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. KeyCorp lowered 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. Finally, Sanford C. Bernstein downgraded Global Payments from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $135.00 to $112.00 in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.55.

Global Payments Stock Down 3.3 %

Shares of Global Payments stock opened at $110.97 on Thursday. The stock’s 50-day moving average is $110.60 and its 200 day moving average is $104.81. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The firm has a market cap of $28.24 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 0.90 and a beta of 1.00. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 dividend yield of 0.90%. The ex-dividend date is Friday, December 13th. Global Payments’s payout ratio is 18.83%.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $116.00 per share, with a total value of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares in the company, valued at $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by company insiders.

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.