PFG Investments LLC Trims Stock Position in Global Payments Inc. (NYSE:GPN)

PFG Investments LLC decreased its stake in Global Payments Inc. (NYSE:GPN) by 33.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,243 shares of the business services provider’s stock after selling 1,131 shares during the quarter. PFG Investments LLC’s holdings in Global Payments were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPN. Cromwell Holdings LLC purchased a new stake in Global Payments in the 3rd quarter worth approximately $25,000. Beaird Harris Wealth Management LLC purchased a new stake in Global Payments during the third quarter worth $25,000. Capital Performance Advisors LLP purchased a new stake in Global Payments during the third quarter worth $33,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after buying an additional 143 shares in the last quarter. Finally, Quarry LP raised its position in shares of Global Payments by 134.4% in the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after acquiring an additional 293 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Stock Performance

NYSE GPN opened at $112.92 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $28.74 billion, a P/E ratio of 21.27, a P/E/G ratio of 0.79 and a beta of 1.00. The stock has a 50-day moving average of $112.90 and a two-hundred day moving average of $107.91. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77.

Analyst Ratings Changes

A number of research firms have recently commented on GPN. Keefe, Bruyette & Woods raised their target price on Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Stephens downgraded Global Payments from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. The Goldman Sachs Group reissued a “neutral” rating and issued a $122.00 price target (down previously from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. Morgan Stanley upped their price objective on shares of Global Payments from $156.00 to $166.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $135.71.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the acquisition, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.