Global Payments Inc. (NYSE:GPN) Shares Purchased by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV boosted its holdings in shares of Global Payments Inc. (NYSE:GPN) by 683.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,821 shares of the business services provider’s stock after acquiring an additional 2,461 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Global Payments were worth $273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Retirement Partners LLC boosted its holdings in Global Payments by 18.8% in the first quarter. Global Retirement Partners LLC now owns 524 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 83 shares during the period. Assenagon Asset Management S.A. increased its position in Global Payments by 1.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,752 shares of the business services provider’s stock worth $635,000 after purchasing an additional 90 shares during the period. Fulton Bank N.A. increased its position in Global Payments by 1.7% during the 4th quarter. Fulton Bank N.A. now owns 5,409 shares of the business services provider’s stock worth $687,000 after purchasing an additional 93 shares during the period. Fidelis Capital Partners LLC increased its position in Global Payments by 5.1% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock worth $258,000 after purchasing an additional 93 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in shares of Global Payments by 30.9% during the 1st quarter. CENTRAL TRUST Co now owns 453 shares of the business services provider’s stock worth $61,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GPN shares. Morgan Stanley upped their target price on Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. TD Cowen dropped their price objective on Global Payments from $152.00 to $125.00 and set a “buy” rating for the company in a report on Friday, June 21st. Susquehanna lowered their price target on Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a report on Thursday, May 2nd. Keefe, Bruyette & Woods lowered their target price on Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Finally, Mizuho lowered their target price on Global Payments from $129.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.35.

Insider Activity at Global Payments

In related news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

Global Payments Stock Performance

GPN stock traded down $2.97 during mid-day trading on Monday, reaching $92.65. The company had a trading volume of 2,537,410 shares, compared to its average volume of 2,285,840. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The stock’s 50-day simple moving average is $97.80 and its two-hundred day simple moving average is $116.30. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $23.65 billion, a P/E ratio of 18.45, a P/E/G ratio of 0.63 and a beta of 0.98.

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.