Marshall Wace LLP Grows Holdings in Global Payments Inc (GPN)
Marshall Wace LLP grew its holdings in Global Payments Inc (NYSE:GPN) by 1,131.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,090 shares of the business services provider’s stock after purchasing an additional 329,934 shares during the quarter. Marshall Wace LLP’s holdings in Global Payments were worth $45,748,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Davy Asset Management Ltd purchased a new position in Global Payments in the 2nd quarter worth approximately $648,000. Bank of America Corp DE lifted its stake in Global Payments by 8.5% in the 2nd quarter. Bank of America Corp DE now owns 1,192,076 shares of the business services provider’s stock worth $132,905,000 after purchasing an additional 93,698 shares in the last quarter. Iberiabank Corp purchased a new position in Global Payments in the 3rd quarter worth approximately $281,000. Stephens Investment Management Group LLC lifted its stake in Global Payments by 7.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 47,612 shares of the business services provider’s stock worth $5,240,000 after purchasing an additional 3,408 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Global Payments by 16.3% during the 3rd quarter. Bank of Montreal Can now owns 174,287 shares of the business services provider’s stock valued at $22,204,000 after buying an additional 24,415 shares during the period. 97.43% of the stock is currently owned by institutional investors and hedge funds.
Global Payments stock traded down $0.67 during trading on Thursday, hitting $106.32. The company had a trading volume of 2,121,700 shares, compared to its average volume of 1,084,881. Global Payments Inc has a 1-year low of $97.46 and a 1-year high of $129.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $16.93 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.23 and a beta of 1.16.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is 1.00%.
GPN has been the topic of several analyst reports. BMO Capital Markets initiated coverage on shares of Global Payments in a research report on Wednesday, September 26th. They set an “outperform” rating and a $139.00 price target on the stock. Deutsche Bank lifted their price target on shares of Global Payments to $140.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Guggenheim lowered shares of Global Payments from a “buy” rating to a “neutral” rating in a research report on Monday, November 5th. Robert W. Baird lifted their price target on shares of Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Finally, KeyCorp lifted their price target on shares of Global Payments from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. Global Payments presently has a consensus rating of “Buy” and a consensus target price of $123.30.
In other Global Payments news, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $109.66, for a total value of $76,762.00. Following the completion of the transaction, the director now owns 42,169 shares in the company, valued at $4,624,252.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Lawrence Green sold 9,212 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $128.17, for a total transaction of $1,180,702.04. Following the completion of the transaction, the executive vice president now owns 63,083 shares of the company’s stock, valued at approximately $8,085,348.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,899 shares of company stock valued at $9,528,952. Insiders own 0.98% of the company’s stock.
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Global Payments Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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