Global Payments Inc. (NYSE:GPN) Shares Purchased by NovaPoint Capital LLC

NovaPoint Capital LLC raised its holdings in Global Payments Inc. (NYSE:GPN) by 23.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,200 shares of the business services provider’s stock after acquiring an additional 600 shares during the period. NovaPoint Capital LLC’s holdings in Global Payments were worth $359,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Econ Financial Services Corp acquired a new stake in Global Payments during the fourth quarter valued at approximately $474,000. Tectonic Advisors LLC increased its holdings in shares of Global Payments by 11.2% in the fourth quarter. Tectonic Advisors LLC now owns 3,967 shares of the business services provider’s stock valued at $445,000 after buying an additional 399 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in shares of Global Payments during the 4th quarter valued at $482,000. Y.D. More Investments Ltd grew its holdings in shares of Global Payments by 1.8% in the 4th quarter. Y.D. More Investments Ltd now owns 6,949 shares of the business services provider’s stock worth $779,000 after acquiring an additional 120 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of Global Payments by 3.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,288 shares of the business services provider’s stock worth $368,000 after purchasing an additional 122 shares during the period. Institutional investors own 89.76% of the company’s stock.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of Global Payments stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $116.00 per share, with a total value of $672,800.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.98% of the stock is owned by company insiders.

Global Payments Price Performance

Shares of NYSE:GPN opened at $111.72 on Thursday. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 0.81 and a beta of 1.01. The business has a 50 day moving average price of $112.52 and a 200 day moving average price of $108.20. 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 twelve month low of $91.60 and a twelve month high of $141.77.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GPN shares. Morgan Stanley increased their price target on Global Payments from $156.00 to $166.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays upped their price target on shares of Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Stephens lowered Global Payments from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $125.00 to $120.00 in a report on Friday, January 10th. Finally, Jefferies Financial Group lowered their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $135.71.

Global Payments Company Profile

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.