Crossmark Global Holdings Inc. trimmed its position in Global Payments Inc (NYSE:GPN) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 7,707 shares of the business services provider’s stock after selling 395 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Global Payments were worth $795,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of GPN. Private Capital Group LLC grew its position in Global Payments by 164.1% in the 4th quarter. Private Capital Group LLC now owns 544 shares of the business services provider’s stock worth $56,000 after purchasing an additional 338 shares in the last quarter. IFP Advisors Inc grew its position in Global Payments by 15.6% in the 4th quarter. IFP Advisors Inc now owns 897 shares of the business services provider’s stock worth $92,000 after purchasing an additional 121 shares in the last quarter. TRUE Private Wealth Advisors bought a new stake in Global Payments in the 3rd quarter worth about $112,000. First Hawaiian Bank bought a new stake in Global Payments in the 3rd quarter worth about $124,000. Finally, CENTRAL TRUST Co grew its position in Global Payments by 10.2% in the 4th quarter. CENTRAL TRUST Co now owns 1,597 shares of the business services provider’s stock worth $165,000 after purchasing an additional 148 shares in the last quarter. 98.47% of the stock is owned by institutional investors and hedge funds.
Global Payments stock opened at $116.02 on Tuesday. Global Payments Inc has a 1-year low of $94.81 and a 1-year high of $129.25. The company has a market capitalization of $18.18 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.15. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13.
In related news, Director Alan M. Silberstein sold 700 shares of Global Payments stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $109.66, for a total value of $76,762.00. Following the completion of the transaction, the director now directly owns 42,169 shares in the company, valued at approximately $4,624,252.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of Global Payments stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $102.02, for a total transaction of $306,060.00. Following the completion of the transaction, the director now owns 74,899 shares of the company’s stock, valued at $7,641,195.98. The disclosure for this sale can be found here. Insiders sold a total of 6,700 shares of company stock valued at $715,282 over the last quarter. 0.98% of the stock is owned by company insiders.
A number of research analysts have recently weighed in on GPN shares. Guggenheim downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a research report on Monday, November 5th. Robert W. Baird increased their target price on shares of Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. KeyCorp reduced their target price on shares of Global Payments from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, January 2nd. Goldman Sachs Group raised shares of Global Payments from a “neutral” rating to a “buy” rating and increased their target price for the company from $122.00 to $128.00 in a research report on Tuesday, January 8th. Finally, Zacks Investment Research downgraded shares of Global Payments from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. Global Payments presently has an average rating of “Buy” and a consensus price target of $131.26.
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Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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