Global Payments Inc. (NYSE:GPN) Shares Bought by Caprock Group LLC

Caprock Group LLC grew its holdings in shares of Global Payments Inc. (NYSE:GPN) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,313 shares of the business services provider’s stock after purchasing an additional 206 shares during the period. Caprock Group LLC’s holdings in Global Payments were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nordea Investment Management AB boosted its holdings in 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. Massachusetts Financial Services Co. MA increased its holdings in shares of Global Payments by 65.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after purchasing an additional 785,539 shares during the period. Entropy Technologies LP purchased a new stake in shares of Global Payments during the third quarter worth $562,000. Poplar Forest Capital LLC acquired a new position in Global Payments in the 3rd quarter worth about $13,184,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Global Payments by 1,559.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 548,833 shares of the business services provider’s stock worth $61,502,000 after purchasing an additional 515,763 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GPN shares. JPMorgan Chase & Co. cut their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Jefferies Financial Group reduced their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price target on Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Royal Bank of Canada decreased their price objective on Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $122.00 price objective (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. One investment 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, Global Payments currently has a consensus rating of “Hold” and an average price target of $135.71.

Global Payments Price Performance

Global Payments stock opened at $110.93 on Friday. The stock has a market cap of $28.23 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 0.81 and a beta of 1.01. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The business’s 50-day simple moving average is $112.36 and its 200 day simple moving average is $108.23.

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 on Friday, December 13th. The shares were purchased 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 of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.98% of the company’s stock.

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.