Sciencast Management LP purchased a new position in Global Payments Inc (NYSE:GPN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,743 shares of the business services provider’s stock, valued at approximately $442,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Heritage Wealth Advisors lifted its holdings in shares of Global Payments by 264.2% in the 2nd quarter. Heritage Wealth Advisors now owns 539 shares of the business services provider’s stock worth $25,000 after purchasing an additional 391 shares in the last quarter. Campbell Wealth Management bought a new position in shares of Global Payments during the 2nd quarter worth approximately $30,000. Global Retirement Partners LLC boosted its stake in shares of Global Payments by 2,928.6% in the 1st quarter. Global Retirement Partners LLC now owns 212 shares of the business services provider’s stock worth $31,000 after buying an additional 205 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of Global Payments in the first quarter valued at approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Global Payments by 1,976.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 270 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.
GPN stock opened at $178.02 on Friday. The firm has a 50 day simple moving average of $171.93 and a two-hundred day simple moving average of $173.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $53.25 billion, a PE ratio of 29.47, a P/E/G ratio of 2.07 and a beta of 1.14. Global Payments Inc has a one year low of $105.54 and a one year high of $209.62.
Several equities research analysts have recently issued reports on GPN shares. Credit Suisse Group raised their target price on Global Payments from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Susquehanna Bancshares reduced their price objective on Global Payments from $235.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods lifted their target price on shares of Global Payments from $161.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Wells Fargo & Co lifted their price objective on shares of Global Payments from $175.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Cfra restated a “buy” rating and set a $165.00 target price on shares of Global Payments in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have assigned a buy rating to the stock. Global Payments currently has an average rating of “Buy” and a consensus price target of $194.31.
In other news, Director William I. Jacobs sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $166.25, for a total value of $83,125.00. Following the completion of the sale, the director now directly owns 24,893 shares in the company, valued at approximately $4,138,461.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Guido Francesco Sacchi sold 8,754 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $174.31, for a total transaction of $1,525,909.74. Following the completion of the sale, the executive vice president now directly owns 36,123 shares of the company’s stock, valued at approximately $6,296,600.13. The disclosure for this sale can be found here. Insiders sold a total of 11,297 shares of company stock valued at $1,971,082 over the last quarter. Company insiders own 0.88% of the company’s stock.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
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