Massmutual Trust Co. FSB ADV Has $273,000 Holdings in Global Payments Inc. (NYSE:GPN)

Massmutual Trust Co. FSB ADV increased its holdings in shares of Global Payments Inc. (NYSE:GPN) by 683.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,821 shares of the business services provider’s stock after acquiring an additional 2,461 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Global Payments were worth $273,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Global Payments by 70.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 564 shares of the business services provider’s stock worth $72,000 after buying an additional 233 shares during the period. Lake Street Advisors Group LLC bought a new position in Global Payments during the 4th quarter worth about $210,000. McKinley Carter Wealth Services Inc. increased its holdings in Global Payments by 35.4% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 46,953 shares of the business services provider’s stock worth $5,963,000 after purchasing an additional 12,273 shares in the last quarter. Cibc World Markets Corp increased its holdings in Global Payments by 29.1% during the 4th quarter. Cibc World Markets Corp now owns 82,672 shares of the business services provider’s stock worth $10,499,000 after purchasing an additional 18,615 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Global Payments by 6.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 255,468 shares of the business services provider’s stock worth $32,064,000 after purchasing an additional 15,655 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Activity

In other news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares of the company’s stock, valued at $2,806,770.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

Global Payments Trading Down 3.1 %

Shares of GPN stock traded down $2.97 during mid-day trading on Monday, reaching $92.65. 2,537,410 shares of the stock traded hands, compared to its average volume of 2,285,840. The stock’s fifty day simple moving average is $97.80 and its two-hundred day simple moving average is $116.30. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The company has a market cap of $23.65 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 0.63 and a beta of 0.98. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

Analysts Set New Price Targets

GPN has been the subject of a number of research reports. Evercore ISI lowered their target price on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Wells Fargo & Company started coverage on Global Payments in a report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price objective for the company. BMO Capital Markets decreased their price objective on Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Robert W. Baird decreased their price objective on Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Finally, Susquehanna decreased their price objective on Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.35.

Global Payments Company 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.