Prescott Group Capital Management L.L.C. Boosts Position in Global Payments Inc. $GPN

Prescott Group Capital Management L.L.C. grew its holdings in Global Payments Inc. (NYSE:GPN) by 50.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,805 shares of the business services provider’s stock after acquiring an additional 30,000 shares during the period. Global Payments comprises 0.8% of Prescott Group Capital Management L.L.C.’s holdings, making the stock its 25th biggest position. Prescott Group Capital Management L.L.C.’s holdings in Global Payments were worth $7,461,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Assetmark Inc. grew its position in Global Payments by 16.1% during the 3rd quarter. Assetmark Inc. now owns 10,141 shares of the business services provider’s stock worth $843,000 after purchasing an additional 1,403 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Global Payments by 307.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 93,433 shares of the business services provider’s stock valued at $7,762,000 after buying an additional 70,521 shares during the period. LSV Asset Management boosted its stake in shares of Global Payments by 22.7% in the third quarter. LSV Asset Management now owns 342,600 shares of the business services provider’s stock worth $28,463,000 after buying an additional 63,400 shares during the last quarter. Caprock Group LLC acquired a new stake in Global Payments during the third quarter worth about $332,000. Finally, Rhumbline Advisers raised its position in Global Payments by 2.7% during the third quarter. Rhumbline Advisers now owns 555,562 shares of the business services provider’s stock valued at $46,156,000 after acquiring an additional 14,430 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling

In other news, EVP David M. Sheffield sold 2,016 shares of the company’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 completion of the sale, the executive vice president directly owned 14,438 shares in the company, valued at $1,175,397.58. This represents a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Lawrence Green sold 11,600 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were 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 of the company’s stock, valued at approximately $5,446,999.04. This represents a 14.56% decrease in their position. The SEC filing for this sale provides additional information. 1.01% of the stock is currently owned by company insiders.

Global Payments Stock Down 4.5%

Shares of NYSE GPN opened at $68.94 on Friday. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $108.78. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The company’s 50-day simple moving average is $76.58 and its 200-day simple moving average is $80.69. The firm has a market cap of $16.32 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 0.47 and a beta of 0.76.

Analysts Set New Price Targets

A number of brokerages have recently commented on GPN. Truist Financial set a $85.00 price objective on shares of Global Payments in a research note on Tuesday, January 20th. Citigroup upgraded shares of Global Payments to a “strong-buy” rating in a research report on Thursday, October 23rd. Rothschild & Co Redburn upped their price objective on shares of Global Payments from $65.00 to $70.00 and gave the stock a “sell” rating in a research report on Wednesday, December 3rd. Zacks Research upgraded Global Payments to a “hold” rating in a research report on Tuesday, November 18th. Finally, KeyCorp lowered Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $97.59.

Global Payments 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.