Public Sector Pension Investment Board Raises Stock Position in Global Payments Inc. $GPN

Public Sector Pension Investment Board lifted its holdings in Global Payments Inc. (NYSE:GPN) by 307.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,433 shares of the business services provider’s stock after buying an additional 70,521 shares during the period. Public Sector Pension Investment Board’s holdings in Global Payments were worth $7,762,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GPN. Norges Bank bought a new stake in shares of Global Payments in the 2nd quarter valued at approximately $273,844,000. Balyasny Asset Management L.P. raised its holdings in Global Payments by 480.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,074,669 shares of the business services provider’s stock valued at $86,017,000 after buying an additional 889,590 shares during the period. Hsbc Holdings PLC raised its holdings in Global Payments by 99.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,124,558 shares of the business services provider’s stock valued at $89,820,000 after buying an additional 560,936 shares during the period. Natixis lifted its position in Global Payments by 205.6% in the second quarter. Natixis now owns 778,204 shares of the business services provider’s stock worth $62,287,000 after buying an additional 523,555 shares during the last quarter. Finally, Glenview Capital Management LLC boosted its stake in Global Payments by 13.8% during the second quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider’s stock worth $345,524,000 after buying an additional 523,209 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

GPN opened at $69.81 on Wednesday. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 9.80, a PEG ratio of 0.45 and a beta of 0.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $107.27. The business’s fifty day simple moving average is $76.03 and its 200-day simple moving average is $80.41.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. KeyCorp downgraded shares of Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Global Payments from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Wells Fargo & Company raised shares of Global Payments to a “strong-buy” rating in a research note on Wednesday, October 22nd. UBS Group reaffirmed a “neutral” rating and set a $93.00 target price on shares of Global Payments in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Global Payments in a report on Wednesday, January 14th. They issued a “hold” rating and a $80.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $91.75.

Insiders Place Their Bets

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 10,392 shares of Global Payments stock in a transaction dated Thursday, December 11th. The stock was acquired at an average price of $81.42 per share, for a total transaction 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Lawrence Green sold 11,600 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $79.99, for a total transaction of $927,884.00. Following the transaction, the insider owned 68,096 shares in the company, valued at approximately $5,446,999.04. This represents a 14.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.01% of the stock is 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.