MidWestOne Financial Group Inc. Increases Stake in Global Payments Inc. $GPN

MidWestOne Financial Group Inc. raised its stake in Global Payments Inc. (NYSE:GPN) by 32.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 58,245 shares of the business services provider’s stock after purchasing an additional 14,266 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Global Payments were worth $4,839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Glenview Capital Management LLC raised its holdings in Global Payments by 13.8% during the 2nd quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider’s stock valued at $345,524,000 after buying an additional 523,209 shares during the last quarter. Norges Bank purchased a new position in shares of Global Payments in the second quarter valued at about $273,844,000. Massachusetts Financial Services Co. MA raised its stake in shares of Global Payments by 5.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,070,960 shares of the business services provider’s stock valued at $165,760,000 after acquiring an additional 98,815 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Global Payments by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,649,083 shares of the business services provider’s stock worth $131,993,000 after purchasing an additional 24,795 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Global Payments by 5.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,539,684 shares of the business services provider’s stock worth $123,236,000 after purchasing an additional 85,520 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

Shares of Global Payments stock opened at $68.47 on Friday. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $107.27. The firm has a market capitalization of $16.21 billion, a P/E ratio of 9.62, a P/E/G ratio of 0.45 and a beta of 0.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $76.37 and a two-hundred day simple moving average of $80.57.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group reaffirmed a “neutral” rating and set a $93.00 price target on shares of Global Payments in a research report on Wednesday, January 21st. Stephens decreased their target price on Global Payments from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research note on Thursday, January 22nd. Truist Financial set a $85.00 price objective on shares of Global Payments in a research report on Tuesday, January 20th. Finally, Evercore decreased their price objective on shares of Global Payments from $90.00 to $85.00 in a report on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $91.75.

Insiders Place Their Bets

In other news, EVP David M. Sheffield sold 2,016 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $81.41, for a total value of $164,122.56. Following the sale, the executive vice president directly owned 14,438 shares of the company’s stock, valued at $1,175,397.58. The trade was a 12.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert H. B. Baldwin, Jr. acquired 10,392 shares of the stock in a transaction on Thursday, December 11th. The shares were bought at an average price of $81.42 per share, with a total value of $846,116.64. Following the purchase, the director directly owned 59,303 shares of the company’s stock, valued at $4,828,450.26. The trade was a 21.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.01% of the company’s stock.

Global Payments Company Profile

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.