Rhumbline Advisers Has $46.16 Million Stake in Global Payments Inc. $GPN

Rhumbline Advisers raised its position in Global Payments Inc. (NYSE:GPN) by 2.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 555,562 shares of the business services provider’s stock after acquiring an additional 14,430 shares during the period. Rhumbline Advisers owned about 0.23% of Global Payments worth $46,156,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pettee Investors Inc. raised its holdings in Global Payments by 24.1% during the 2nd quarter. Pettee Investors Inc. now owns 15,672 shares of the business services provider’s stock valued at $1,254,000 after buying an additional 3,040 shares during the last quarter. Independent Advisor Alliance grew its holdings in Global Payments by 260.5% in the 3rd quarter. Independent Advisor Alliance now owns 29,446 shares of the business services provider’s stock worth $2,446,000 after acquiring an additional 21,278 shares during the last quarter. BIP Wealth LLC increased its position in shares of Global Payments by 151.6% in the third quarter. BIP Wealth LLC now owns 30,103 shares of the business services provider’s stock valued at $2,501,000 after acquiring an additional 18,138 shares during the period. Atlantic Union Bankshares Corp bought a new position in shares of Global Payments during the third quarter valued at about $905,000. Finally, HB Wealth Management LLC boosted its holdings in shares of Global Payments by 213.9% during the third quarter. HB Wealth Management LLC now owns 36,861 shares of the business services provider’s stock worth $3,062,000 after purchasing an additional 25,118 shares during the period. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GPN shares. Deutsche Bank Aktiengesellschaft initiated coverage on Global Payments in a report on Wednesday, January 14th. They set a “hold” rating and a $80.00 price target on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Global Payments in a research note on Thursday, January 22nd. UBS Group reaffirmed a “neutral” rating and issued a $93.00 price target on shares of Global Payments in a research note on Wednesday, January 21st. Royal Bank Of Canada boosted their price objective on shares of Global Payments from $93.00 to $95.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Global Payments from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.75.

Global Payments Stock Performance

GPN opened at $68.47 on Friday. The company’s 50 day moving average is $76.37 and its 200 day moving average is $80.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a market cap of $16.21 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 0.45 and a beta of 0.76. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $107.27.

Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. bought 10,392 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were bought at an average cost of $81.42 per share, with a total value of $846,116.64. Following the acquisition, the director owned 59,303 shares in the company, valued at $4,828,450.26. This trade represents a 21.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David M. Sheffield sold 2,016 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $81.41, for a total transaction of $164,122.56. Following the sale, the executive vice president owned 14,438 shares in the company, valued at approximately $1,175,397.58. The trade was a 12.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.01% of the stock is currently owned by company insiders.

Global Payments Company Profile

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.