ABN AMRO Bank N.V. Makes New $795,000 Investment in Global Payments Inc. $GPN

ABN AMRO Bank N.V. bought a new position in Global Payments Inc. (NYSE:GPN) during the third quarter, HoldingsChannel.com reports. The fund bought 9,245 shares of the business services provider’s stock, valued at approximately $795,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pettee Investors Inc. raised its holdings in shares of Global Payments by 24.1% during the second quarter. Pettee Investors Inc. now owns 15,672 shares of the business services provider’s stock valued at $1,254,000 after purchasing an additional 3,040 shares during the last quarter. Independent Advisor Alliance grew its position in Global Payments by 260.5% in the 3rd quarter. Independent Advisor Alliance now owns 29,446 shares of the business services provider’s stock worth $2,446,000 after purchasing an additional 21,278 shares during the period. BIP Wealth LLC raised its stake in Global Payments by 151.6% during the 3rd quarter. BIP Wealth LLC now owns 30,103 shares of the business services provider’s stock valued at $2,501,000 after buying an additional 18,138 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Global Payments by 213.9% during the 3rd quarter. HB Wealth Management LLC now owns 36,861 shares of the business services provider’s stock valued at $3,062,000 after buying an additional 25,118 shares during the period. Finally, Saiph Capital LLC bought a new position in shares of Global Payments during the 2nd quarter valued at $7,269,000. 89.76% of the stock is currently owned by institutional investors.

Global Payments Trading Up 0.7%

Global Payments stock opened at $71.29 on Friday. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $112.50. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 0.46 and a beta of 0.76. The firm has a 50 day moving average of $77.22 and a 200 day moving average of $81.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.03. Global Payments had a net margin of 19.68% and a return on equity of 12.66%. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the company posted $3.08 earnings per share. As a group, research analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Connie D. Mcdaniel sold 4,464 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $77.81, for a total transaction of $347,343.84. Following the completion of the transaction, the director directly owned 30,014 shares of the company’s stock, valued at approximately $2,335,389.34. This trade represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Lawrence Green sold 11,600 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $79.99, for a total transaction of $927,884.00. Following the transaction, the insider directly owned 68,096 shares of the company’s stock, valued at $5,446,999.04. This trade represents a 14.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,080 shares of company stock worth $1,439,350 over the last quarter. Company insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Evercore ISI cut their price objective on Global Payments from $90.00 to $85.00 in a report on Tuesday, November 11th. Jefferies Financial Group dropped their target price on Global Payments from $85.00 to $75.00 and set a “hold” rating on the stock in a research report on Monday, November 24th. Cantor Fitzgerald raised shares of Global Payments to a “hold” rating in a research report on Tuesday, January 27th. Citigroup upgraded shares of Global Payments to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, TD Cowen dropped their price objective on shares of Global Payments from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $97.82.

About Global Payments

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.