25,647 Shares in Global Payments Inc. (NYSE:GPN) Bought by Equitable Trust Co.

Equitable Trust Co. purchased a new position in shares of Global Payments Inc. (NYSE:GPN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,647 shares of the business services provider’s stock, valued at approximately $2,874,000.

Other hedge funds have also recently modified their holdings of the company. Cromwell Holdings LLC acquired a new stake in shares of Global Payments during the third quarter worth $25,000. Beaird Harris Wealth Management LLC purchased a new position in Global Payments in the third quarter worth $25,000. Capital Performance Advisors LLP purchased a new position in Global Payments in the third quarter worth $33,000. Whittier Trust Co. of Nevada Inc. raised its position 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 worth $39,000 after acquiring an additional 143 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Global Payments in the third quarter worth $50,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPN has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. JPMorgan Chase & Co. dropped their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Stephens cut 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 report on Friday, January 10th. Barclays raised their price target on Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group dropped their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $135.71.

Insiders Place Their Bets

In other news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of Global Payments stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $116.00 per share, with a total value of $672,800.00. Following the purchase, the director now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is owned by corporate insiders.

Global Payments Stock Down 1.5 %

Shares of NYSE:GPN opened at $109.53 on Monday. The stock’s 50-day moving average price is $112.01 and its two-hundred day moving average price is $108.37. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The firm has a market cap of $27.87 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 0.80 and a beta of 1.01.

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.