Perigon Wealth Management LLC Acquires 335 Shares of Global Payments Inc. (NYSE:GPN)

Perigon Wealth Management LLC boosted its stake in shares of Global Payments Inc. (NYSE:GPN) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,788 shares of the business services provider’s stock after buying an additional 335 shares during the quarter. Perigon Wealth Management LLC’s holdings in Global Payments were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GPN. Massachusetts Financial Services Co. MA lifted its stake in shares of Global Payments by 65.6% in the third 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. Assenagon Asset Management S.A. raised its holdings in Global Payments by 1,559.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 548,833 shares of the business services provider’s stock worth $61,502,000 after purchasing an additional 515,763 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of 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 worth $271,090,000 after purchasing an additional 490,411 shares during the period. Soros Fund Management LLC bought a new stake in shares of Global Payments in the 3rd quarter valued at $47,113,000. Finally, Blue Trust Inc. increased its position in shares of Global Payments by 925.5% during the fourth quarter. Blue Trust Inc. now owns 417,832 shares of the business services provider’s stock worth $42,794,000 after buying an additional 377,087 shares during the period. Institutional investors own 89.76% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the company’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares in the company, valued at $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.98% of the company’s stock.

Global Payments Price Performance

Shares of NYSE GPN opened at $112.92 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $28.74 billion, a PE ratio of 21.27, a PEG ratio of 0.79 and a beta of 1.00. The stock’s 50 day moving average price is $112.82 and its 200-day moving average price is $108.00. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77.

Analyst Ratings Changes

A number of brokerages have commented on GPN. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group decreased their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Stephens lowered Global Payments from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $125.00 to $120.00 in a research note on Friday, January 10th. Sanford C. Bernstein downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, twelve have given 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 a consensus target price of $135.71.

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.