State of Alaska Department of Revenue Sells 540 Shares of Global Payments Inc. (NYSE:GPN)

State of Alaska Department of Revenue decreased its position in Global Payments Inc. (NYSE:GPN) by 1.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 29,018 shares of the business services provider’s stock after selling 540 shares during the period. State of Alaska Department of Revenue’s holdings in Global Payments were worth $3,251,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in GPN. NovaPoint Capital LLC increased its holdings in shares of Global Payments by 23.1% during the 4th quarter. NovaPoint Capital LLC now owns 3,200 shares of the business services provider’s stock worth $359,000 after acquiring an additional 600 shares during the last quarter. Econ Financial Services Corp acquired a new position in Global Payments in the fourth quarter valued at about $474,000. Tectonic Advisors LLC boosted its position in shares of Global Payments by 11.2% during the 4th quarter. Tectonic Advisors LLC now owns 3,967 shares of the business services provider’s stock worth $445,000 after acquiring an additional 399 shares in the last quarter. Deltec Asset Management LLC bought a new position in shares of Global Payments in the 4th quarter valued at $482,000. Finally, Y.D. More Investments Ltd raised its stake in Global Payments by 1.8% during the fourth quarter. Y.D. More Investments Ltd now owns 6,949 shares of the business services provider’s stock worth $779,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

GPN has been the topic of a number of research reports. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target 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 issued a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. Keefe, Bruyette & Woods upped their price target on Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Stephens cut shares of Global Payments from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $125.00 to $120.00 in a research report on Friday, January 10th. 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 MarketBeat, Global Payments has an average rating of “Hold” and an average price target of $135.71.

Global Payments Trading Down 1.5 %

GPN opened at $109.53 on Monday. The firm has a market capitalization of $27.87 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 0.80 and a beta of 1.01. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The business has a 50 day simple moving average of $112.01 and a two-hundred day simple moving average of $108.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Insider Activity at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of Global Payments stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $116.00 per share, with a total value of $672,800.00. Following the transaction, the director now owns 42,738 shares in the company, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is owned by corporate insiders.

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.