Global Payments Inc. (NYSE:GPN) Shares Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC increased its stake in shares of Global Payments Inc. (NYSE:GPN) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,913 shares of the business services provider’s stock after purchasing an additional 208 shares during the period. Stonegate Investment Group LLC’s holdings in Global Payments were worth $2,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cromwell Holdings LLC acquired a new position in shares of Global Payments during the third quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC purchased a new position in Global Payments in the 3rd quarter valued at $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Global Payments during the third quarter worth $33,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after buying an additional 143 shares during the last quarter. Finally, Quarry LP boosted its position in Global Payments by 134.4% during the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after acquiring an additional 293 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GPN has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, December 9th. 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 research report on Friday, January 10th. JPMorgan Chase & Co. dropped 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $122.00 price target (down previously from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Finally, Jefferies Financial Group dropped their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.71.

Insider Buying and Selling at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the acquisition, the director now owns 42,738 shares in the company, valued at $4,957,608. The trade was a 15.70 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Global Payments Price Performance

GPN stock opened at $110.79 on Tuesday. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The firm has a market capitalization of $28.19 billion, a P/E ratio of 20.86, a P/E/G ratio of 0.78 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. The business’s 50-day moving average is $113.26 and its two-hundred day moving average is $107.67.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.90%. The ex-dividend date was Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

Global Payments Company 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.