Red Door Wealth Management LLC Reduces Stock Position in Global Payments Inc. (NYSE:GPN)

Red Door Wealth Management LLC cut its holdings in Global Payments Inc. (NYSE:GPN) by 23.1% during the 4th quarter, Holdings Channel reports. The firm owned 1,845 shares of the business services provider’s stock after selling 553 shares during the period. Red Door Wealth Management LLC’s holdings in Global Payments were worth $207,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its position in shares of Global Payments by 22.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 31,545 shares of the business services provider’s stock worth $3,535,000 after purchasing an additional 5,715 shares during the period. Red Spruce Capital LLC raised its stake in Global Payments by 1.6% in the fourth quarter. Red Spruce Capital LLC now owns 22,766 shares of the business services provider’s stock worth $2,551,000 after buying an additional 350 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Global Payments by 770.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,819 shares of the business services provider’s stock worth $316,000 after buying an additional 2,495 shares during the period. Ellsworth Advisors LLC purchased a new stake in Global Payments in the fourth quarter worth about $4,572,000. Finally, Lbmc Investment Advisors LLC purchased a new position in shares of Global Payments during the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the acquisition, the director now owns 42,738 shares in the company, valued at $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Global Payments Price Performance

Shares of NYSE:GPN opened at $108.92 on Friday. The business has a 50-day simple moving average of $113.40 and a two-hundred day simple moving average of $107.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $27.72 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 0.78 and a beta of 1.00. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. Global Payments’s dividend payout ratio (DPR) is 18.83%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group decreased their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Royal Bank of Canada reduced their target price on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Stephens lowered shares of Global Payments from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. Finally, Barclays boosted their price objective on shares of Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Global Payments has an average rating of “Hold” and an average target price of $135.71.

About Global Payments

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.