Moody National Bank Trust Division Reduces Stock Position in Global Payments Inc. (NYSE:GPN)

Moody National Bank Trust Division cut its stake in shares of Global Payments Inc. (NYSE:GPN) by 28.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,248 shares of the business services provider’s stock after selling 1,270 shares during the period. Moody National Bank Trust Division’s holdings in Global Payments were worth $314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TIAA Trust National Association bought a new position in shares of Global Payments in the 4th quarter worth approximately $215,000. International Assets Investment Management LLC bought a new position in shares of Global Payments during the fourth quarter worth $2,774,000. Fulton Bank N.A. grew its position in shares of Global Payments by 1.7% during the fourth quarter. Fulton Bank N.A. now owns 5,409 shares of the business services provider’s stock valued at $687,000 after purchasing an additional 93 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Global Payments during the 4th quarter valued at approximately $249,000. Finally, DekaBank Deutsche Girozentrale increased its position in Global Payments by 45.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 76,416 shares of the business services provider’s stock worth $9,742,000 after purchasing an additional 23,966 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on GPN shares. Morgan Stanley lifted their price target on Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Mizuho dropped their price target on shares of Global Payments from $129.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. Evercore ISI cut their price target on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Wells Fargo & Company assumed coverage on shares of Global Payments in a research note on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price objective for the company. Finally, Susquehanna cut their target price on Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.35.

Global Payments Stock Up 0.4 %

GPN traded up $0.36 on Tuesday, hitting $93.02. The company had a trading volume of 2,959,358 shares, compared to its average volume of 2,290,345. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 0.63 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a fifty day moving average price of $97.59 and a 200-day moving average price of $116.06. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77.

Insider Activity

In related news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the completion of the transaction, the vice president now owns 25,209 shares in the company, valued at approximately $2,806,770.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.98% of the company’s stock.

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.