KBC Group NV raised its position in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,047 shares of the business services provider’s stock after acquiring an additional 322 shares during the period. KBC Group NV’s holdings in Global Payments were worth $7,177,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC boosted its holdings in Global Payments by 0.3% during the 3rd quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock valued at $2,760,000 after acquiring an additional 86 shares during the period. Sage Capital Advisors llc boosted its stake in shares of Global Payments by 0.3% during the fourth quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider’s stock valued at $3,164,000 after purchasing an additional 96 shares during the period. SYM FINANCIAL Corp grew its holdings in shares of Global Payments by 4.1% in the third quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock worth $250,000 after purchasing an additional 97 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC increased its stake in Global Payments by 1.2% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after buying an additional 98 shares during the period. Finally, Deseret Mutual Benefit Administrators lifted its holdings in Global Payments by 27.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock valued at $56,000 after buying an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Stephens downgraded Global Payments from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $125.00 to $120.00 in a report on Friday, January 10th. JPMorgan Chase & Co. lowered their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Morgan Stanley raised their price target on Global Payments from $156.00 to $166.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $135.71.
Global Payments Stock Up 2.4 %
NYSE:GPN opened at $112.92 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a market cap of $28.74 billion, a PE ratio of 21.27, a P/E/G ratio of 0.78 and a beta of 1.00. The company’s 50 day moving average is $112.98 and its two-hundred day moving average is $107.87.
Insider Activity
In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the acquisition, the director now directly owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.98% of the company’s stock.
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.
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