Koa Wealth Management LLC Sells 1,644 Shares of Global Payments Inc. (NYSE:GPN)

Koa Wealth Management LLC trimmed its stake in Global Payments Inc. (NYSE:GPN) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,789 shares of the business services provider’s stock after selling 1,644 shares during the period. Global Payments comprises about 1.6% of Koa Wealth Management LLC’s investment portfolio, making the stock its 20th largest position. Koa Wealth Management LLC’s holdings in Global Payments were worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of GPN. Pzena Investment Management LLC grew its holdings in shares of Global Payments by 3.4% in the 3rd 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 boosted its position in Global Payments by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock valued at $605,078,000 after buying an additional 31,934 shares in the last quarter. Franklin Resources Inc. grew its stake in Global Payments by 1.5% during the third 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 increased its holdings in shares of Global Payments by 13.4% during the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider’s stock worth $330,516,000 after buying an additional 349,457 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Global Payments by 22.7% in the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $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 and hedge funds.

Analyst Ratings Changes

GPN has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $122.00 price target (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. Barclays raised their target price on Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price objective on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada dropped their target price on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $135.71.

Insider Activity at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the company’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the acquisition, the director now owns 42,738 shares of the company’s stock, valued at approximately $4,957,608. This represents a 15.70 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.98% of the stock is owned by corporate insiders.

Global Payments Stock Up 2.4 %

Shares of NYSE:GPN opened at $112.92 on Friday. The company has a 50 day moving average price of $112.98 and a two-hundred day moving average price of $107.87. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $28.74 billion, a PE ratio of 21.27, a PEG ratio of 0.79 and a beta of 1.00. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77.

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.