Coronation Fund Managers Ltd. Has $34.45 Million Holdings in Global Payments Inc. (NYSE:GPN)

Coronation Fund Managers Ltd. lifted its holdings in Global Payments Inc. (NYSE:GPN) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 307,436 shares of the business services provider’s stock after buying an additional 31,436 shares during the period. Global Payments comprises approximately 2.0% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 18th biggest position. Coronation Fund Managers Ltd. owned about 0.12% of Global Payments worth $34,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GPN. Pzena Investment Management LLC boosted its holdings in shares of Global Payments by 3.4% during the 3rd quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock worth $679,952,000 after buying an additional 215,399 shares during the period. Geode Capital Management LLC boosted its holdings in Global Payments by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock valued at $605,078,000 after purchasing an additional 31,934 shares during the period. Franklin Resources Inc. increased its holdings in shares of Global Payments by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock worth $564,437,000 after purchasing an additional 83,481 shares during the period. Nordea Investment Management AB raised its position in shares of Global Payments by 13.4% during the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider’s stock valued at $330,516,000 after buying an additional 349,457 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Global Payments by 22.7% in the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after buying an additional 490,411 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GPN. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $122.00 price target (down previously from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Stephens lowered Global Payments from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $125.00 to $120.00 in a research note on Friday, January 10th. Morgan Stanley lifted their price target on shares of Global Payments from $156.00 to $166.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada dropped their price objective on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $135.71.

Insiders Place Their Bets

In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $116.00 per share, with a total value of $672,800.00. Following the purchase, the director now owns 42,738 shares of the company’s stock, valued at approximately $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.98% of the company’s stock.

Global Payments Stock Down 1.5 %

Shares of NYSE GPN opened at $109.53 on Monday. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The firm’s 50-day simple moving average is $112.01 and its 200 day simple moving average is $108.37. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market cap of $27.87 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 0.80 and a beta of 1.01.

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.