MidWestOne Financial Group Inc. Increases Stake in Global Payments Inc. $GPN

MidWestOne Financial Group Inc. grew its position in Global Payments Inc. (NYSE:GPN) by 32.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 58,245 shares of the business services provider’s stock after purchasing an additional 14,266 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Global Payments were worth $4,839,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GPN. North Star Investment Management Corp. lifted its position in Global Payments by 242.2% in the 3rd quarter. North Star Investment Management Corp. now owns 308 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Global Payments in the third quarter worth $27,000. SouthState Bank Corp bought a new position in shares of Global Payments during the third quarter valued at $28,000. REAP Financial Group LLC purchased a new stake in shares of Global Payments during the third quarter valued at $28,000. Finally, Mather Group LLC. purchased a new stake in shares of Global Payments during the third quarter valued at $37,000. Institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GPN shares. Truist Financial set a $85.00 price target on shares of Global Payments in a report on Tuesday, January 20th. Evercore lowered their price objective on shares of Global Payments from $90.00 to $85.00 in a research report on Tuesday, November 11th. Royal Bank Of Canada lifted their target price on shares of Global Payments from $93.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 5th. Jefferies Financial Group lowered their price target on Global Payments from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $91.75.

Global Payments Trading Down 0.7%

NYSE:GPN opened at $68.47 on Friday. Global Payments Inc. has a one year low of $65.93 and a one year high of $107.27. The business has a fifty day moving average price of $76.37 and a 200-day moving average price of $80.57. The firm has a market capitalization of $16.21 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.85.

Insider Transactions at Global Payments

In other news, EVP David M. Sheffield sold 2,016 shares of Global Payments stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $81.41, for a total transaction of $164,122.56. Following the transaction, the executive vice president directly owned 14,438 shares of the company’s stock, valued at $1,175,397.58. The trade was a 12.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert H. B. Baldwin, Jr. bought 10,392 shares of Global Payments stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average cost of $81.42 per share, with a total value of $846,116.64. Following the completion of the acquisition, the director directly owned 59,303 shares in the company, valued at $4,828,450.26. This represents a 21.25% increase in their position. The SEC filing for this purchase provides additional information. Corporate 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.