Global Payments Inc. (NYSE:GPN) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in shares of Global Payments Inc. (NYSE:GPN) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 92,711 shares of the business services provider’s stock after selling 2,411 shares during the period. OLD National Bancorp IN’s holdings in Global Payments were worth $10,389,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GPN. Public Sector Pension Investment Board raised its position in shares of Global Payments by 64.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 9,417 shares of the business services provider’s stock worth $911,000 after purchasing an additional 3,691 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Global Payments by 91.4% during the 2nd quarter. Mackenzie Financial Corp now owns 53,107 shares of the business services provider’s stock worth $5,135,000 after purchasing an additional 25,365 shares during the last quarter. Algert Global LLC acquired a new stake in Global Payments in the 2nd quarter valued at about $479,000. Northwestern Mutual Wealth Management Co. raised its holdings in Global Payments by 35.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 28,962 shares of the business services provider’s stock valued at $2,801,000 after acquiring an additional 7,615 shares during the last quarter. Finally, Quarry LP raised its holdings in Global Payments by 134.4% in the 2nd quarter. Quarry LP now owns 511 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 293 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GPN. Barclays raised their price target on shares of Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Sanford C. Bernstein cut shares of Global Payments from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. One 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $135.71.

Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the transaction, the director now owns 42,738 shares of the company’s stock, valued at $4,957,608. This represents a 15.70 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.98% of the company’s stock.

Global Payments Trading Up 0.0 %

NYSE GPN opened at $110.43 on Thursday. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average is $113.06 and its two-hundred day moving average is $107.86. The firm has a market cap of $28.10 billion, a PE ratio of 20.80, a P/E/G ratio of 0.78 and a beta of 1.00.

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.