Global Payments Inc (NYSE:GPN) Director Robert H. B. Baldwin, Jr. sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $80.00, for a total value of $280,000.00. Following the sale, the director now owns 265,752 shares in the company, valued at approximately $21,260,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Global Payments Inc (NYSE:GPN) traded down 0.16% during mid-day trading on Friday, reaching $80.86. The company had a trading volume of 1,603,569 shares. The company’s 50 day moving average is $79.05 and its 200 day moving average is $75.41. The stock has a market capitalization of $12.31 billion, a price-to-earnings ratio of 58.21 and a beta of 1.05. Global Payments Inc has a 52-week low of $64.63 and a 52-week high of $81.71.
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Hedge funds have recently added to or reduced their stakes in the company. Three Peaks Capital Management LLC raised its stake in Global Payments by 32.1% in the third quarter. Three Peaks Capital Management LLC now owns 106,598 shares of the business services provider’s stock worth $8,182,000 after buying an additional 25,925 shares in the last quarter. Jennison Associates LLC raised its stake in Global Payments by 15.4% in the third quarter. Jennison Associates LLC now owns 2,038,202 shares of the business services provider’s stock worth $156,452,000 after buying an additional 271,510 shares in the last quarter. TT International raised its stake in Global Payments by 58.5% in the third quarter. TT International now owns 84,652 shares of the business services provider’s stock worth $6,497,000 after buying an additional 31,229 shares in the last quarter. State of Wisconsin Investment Board raised its stake in Global Payments by 1.3% in the third quarter. State of Wisconsin Investment Board now owns 182,401 shares of the business services provider’s stock worth $14,001,000 after buying an additional 2,400 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Global Payments by 103.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 35,720 shares of the business services provider’s stock worth $5,761,000 after buying an additional 18,120 shares in the last quarter. 97.82% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on GPN. Atlantic Securities assumed coverage on Global Payments in a research note on Wednesday, April 12th. They set an “overweight” rating and a $91.00 price objective on the stock. Barclays PLC upgraded Global Payments from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $88.00 to $92.00 in a research report on Thursday, March 30th. Piper Jaffray Companies increased their price target on Global Payments from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $93.00 price target on shares of Global Payments in a research report on Wednesday, March 15th. Finally, Zacks Investment Research cut Global Payments from a “buy” rating to a “hold” rating in a research report on Thursday, January 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $85.85.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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