Global Payments Inc. $GPN Shares Bought by LSV Asset Management

LSV Asset Management raised its stake in shares of Global Payments Inc. (NYSE:GPN) by 22.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 342,600 shares of the business services provider’s stock after buying an additional 63,400 shares during the period. LSV Asset Management owned about 0.14% of Global Payments worth $28,463,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Global Payments during the second quarter worth about $273,844,000. Balyasny Asset Management L.P. boosted its position in Global Payments by 480.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,074,669 shares of the business services provider’s stock worth $86,017,000 after purchasing an additional 889,590 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Global Payments by 99.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,124,558 shares of the business services provider’s stock worth $89,820,000 after purchasing an additional 560,936 shares during the period. Natixis grew its stake in shares of Global Payments by 205.6% during the 2nd quarter. Natixis now owns 778,204 shares of the business services provider’s stock worth $62,287,000 after purchasing an additional 523,555 shares during the period. Finally, Glenview Capital Management LLC increased its holdings in shares of Global Payments by 13.8% during the 2nd quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider’s stock valued at $345,524,000 after purchasing an additional 523,209 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Down 0.7%

GPN opened at $68.47 on Friday. The company has a market cap of $16.21 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.45 and a beta of 0.76. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $107.27. The company has a 50-day moving average price of $76.37 and a 200 day moving average price of $80.57. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GPN. Truist Financial set a $85.00 price target on shares of Global Payments in a report on Tuesday, January 20th. Stephens lowered their target price on shares of Global Payments from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Friday, January 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Global Payments in a research report on Thursday, January 22nd. Cantor Fitzgerald raised Global Payments to a “hold” rating in a report on Tuesday, January 27th. Finally, Rothschild & Co Redburn increased their price target on Global Payments from $65.00 to $70.00 and gave the stock a “sell” rating in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.75.

Insider Buying and Selling at Global Payments

In other news, EVP David M. Sheffield sold 2,016 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $81.41, for a total value of $164,122.56. Following the transaction, the executive vice president owned 14,438 shares in the company, valued at $1,175,397.58. This trade represents a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Lawrence Green sold 11,600 shares of Global Payments stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $79.99, for a total value of $927,884.00. Following the completion of the sale, the insider directly owned 68,096 shares in the company, valued at $5,446,999.04. This represents a 14.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.01% of the company’s stock.

Global Payments Company Profile

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.