Costello Asset Management INC Lowers Position in Global Payments Inc. (NYSE:GPN)

Costello Asset Management INC trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN) by 93.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 355 shares of the business services provider’s stock after selling 4,900 shares during the quarter. Costello Asset Management INC’s holdings in Global Payments were worth $40,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC increased its position in shares of Global Payments by 3.4% in the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock worth $679,952,000 after purchasing an additional 215,399 shares during the last quarter. Geode Capital Management LLC grew its stake in Global Payments by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock worth $605,078,000 after buying an additional 31,934 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Global Payments by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock worth $564,437,000 after buying an additional 83,481 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Global Payments by 13.4% during the 4th quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider’s stock valued at $330,516,000 after buying an additional 349,457 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Global Payments by 22.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock worth $271,090,000 after acquiring an additional 490,411 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Trading Up 0.0 %

GPN opened at $112.92 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The stock has a market cap of $28.74 billion, a PE ratio of 21.27, a PEG ratio of 0.79 and a beta of 1.00. The business has a 50 day moving average of $112.82 and a 200-day moving average of $108.00.

Analyst Ratings Changes

GPN has been the topic of a number of research reports. Stephens downgraded Global Payments from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $125.00 to $120.00 in a research report on Friday, January 10th. Barclays boosted their target price on Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Royal Bank of Canada reduced their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $135.71.

Insider Buying and Selling at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the purchase, the director now directly owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.98% of the company’s stock.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.