Global Payments Inc. (NYSE:GPN) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lowered its holdings in shares of Global Payments Inc. (NYSE:GPN) by 0.6% in the fourth quarter, Holdings Channel reports. The firm owned 35,454 shares of the business services provider’s stock after selling 199 shares during the quarter. HB Wealth Management LLC’s holdings in Global Payments were worth $3,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in Global Payments by 65.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after acquiring an additional 785,539 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after purchasing an additional 755,898 shares during the period. Assenagon Asset Management S.A. grew its position in Global Payments by 1,559.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 548,833 shares of the business services provider’s stock valued at $61,502,000 after buying an additional 515,763 shares during the last quarter. Janus Henderson Group PLC increased its stake in Global Payments by 22.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after buying an additional 490,411 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in Global Payments by 316.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock worth $58,981,000 after buying an additional 463,568 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $116.00 per share, with a total value 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. This trade represents a 15.70 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

GPN has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. StockNews.com cut Global Payments from a “buy” rating to a “hold” rating in a research report on Wednesday. Monness Crespi & Hardt reduced their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Finally, 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 report on Monday, December 9th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $135.71.

Global Payments Stock Performance

Shares of GPN opened at $108.41 on Friday. The company has a market capitalization of $27.59 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 0.75 and a beta of 1.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The company’s 50 day simple moving average is $114.01 and its 200 day simple moving average is $107.08.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, December 13th. Global Payments’s dividend payout ratio is currently 18.83%.

About Global Payments

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.