Global Payments Inc. (NYSE:GPN) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. lowered its position in Global Payments Inc. (NYSE:GPN) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,085 shares of the business services provider’s stock after selling 425 shares during the period. Oakworth Capital Inc.’s holdings in Global Payments were worth $1,242,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cromwell Holdings LLC acquired a new position in shares of Global Payments in the third quarter worth about $25,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Global Payments in the third quarter worth about $25,000. Capital Performance Advisors LLP acquired a new position in shares of Global Payments in the third quarter worth about $33,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after acquiring an additional 143 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Global Payments in the third quarter worth about $50,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Stock Performance

Global Payments stock opened at $111.72 on Thursday. The firm has a 50 day simple moving average of $112.36 and a 200-day simple moving average of $108.23. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 0.81 and a beta of 1.01.

Insider Activity

In other news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $116.00 per share, with a total value 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 represents a 15.70 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GPN shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. JPMorgan Chase & Co. cut their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Sanford C. Bernstein cut shares of Global Payments from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $135.00 to $112.00 in a research note on Tuesday, October 22nd. Barclays boosted their target price on shares of Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $135.71.

Global Payments 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.