abrdn plc Trims Position in Global Payments Inc. (NYSE:GPN)

abrdn plc trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,918 shares of the business services provider’s stock after selling 14,843 shares during the period. abrdn plc’s holdings in Global Payments were worth $9,717,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Cromwell Holdings LLC purchased a new stake in Global Payments in the third quarter valued at $25,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Global Payments in the 3rd quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new position in shares of Global Payments in the 3rd quarter valued at about $33,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after acquiring an additional 143 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in Global Payments during the third quarter valued at approximately $50,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Performance

NYSE GPN opened at $109.53 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s fifty day moving average is $112.19 and its two-hundred day moving average is $108.25. The firm has a market capitalization of $27.87 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 0.81 and a beta of 1.01. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Wall Street Analysts Forecast Growth

GPN has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price target on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Morgan Stanley lifted their price objective on shares of Global Payments from $156.00 to $166.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Sanford C. Bernstein lowered Global Payments from an “outperform” rating to a “market perform” rating and cut their price target for the company from $135.00 to $112.00 in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Global Payments presently has a consensus rating of “Hold” and an average target price of $135.71.

Insider Transactions at Global Payments

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