Rhumbline Advisers Buys 14,430 Shares of Global Payments Inc. $GPN

Rhumbline Advisers lifted its position in Global Payments Inc. (NYSE:GPN) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 555,562 shares of the business services provider’s stock after purchasing an additional 14,430 shares during the quarter. Rhumbline Advisers’ holdings in Global Payments were worth $46,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC purchased a new stake in shares of Global Payments during the 3rd quarter worth approximately $416,000. Compagnie Lombard Odier SCmA grew its holdings in shares of Global Payments by 337.1% in the third quarter. Compagnie Lombard Odier SCmA now owns 1,530 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 1,180 shares in the last quarter. Wealthfront Advisers LLC increased its position in Global Payments by 52.0% in the third quarter. Wealthfront Advisers LLC now owns 15,539 shares of the business services provider’s stock worth $1,291,000 after purchasing an additional 5,316 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new stake in Global Payments during the third quarter valued at $478,000. Finally, Profund Advisors LLC raised its stake in Global Payments by 17.5% during the third quarter. Profund Advisors LLC now owns 3,206 shares of the business services provider’s stock valued at $266,000 after purchasing an additional 477 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Performance

Shares of Global Payments stock opened at $68.47 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $76.37 and its two-hundred day moving average is $80.57. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $107.27. The company has a market capitalization of $16.21 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.45 and a beta of 0.76.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GPN shares. Stephens dropped their price objective on shares of Global Payments from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Friday, January 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Payments in a research report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their price objective on Global Payments from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group reaffirmed a “neutral” rating and issued a $93.00 price objective on shares of Global Payments in a research note on Wednesday, January 21st. Finally, Cantor Fitzgerald upgraded Global Payments to a “hold” rating in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.75.

Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. acquired 10,392 shares of the stock in a transaction on Thursday, December 11th. The stock was bought at an average cost of $81.42 per share, with a total value of $846,116.64. Following the transaction, the director directly owned 59,303 shares in the company, valued at approximately $4,828,450.26. This represents a 21.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David M. Sheffield sold 2,016 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $81.41, for a total transaction of $164,122.56. Following the completion of the transaction, the executive vice president owned 14,438 shares in the company, valued at $1,175,397.58. This represents a 12.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.01% of the company’s stock.

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.