Global Payments Inc. (NYSE:GPN) Shares Sold by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC cut its stake in Global Payments Inc. (NYSE:GPN) by 1.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,158 shares of the business services provider’s stock after selling 313 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Global Payments were worth $2,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its holdings in shares of Global Payments by 3.4% in the 3rd quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock worth $679,952,000 after acquiring an additional 215,399 shares during the period. Geode Capital Management LLC grew its position in Global Payments by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock worth $605,078,000 after purchasing an additional 31,934 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Global Payments by 1.5% in the third quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock valued at $564,437,000 after purchasing an additional 83,481 shares during the period. Nordea Investment Management AB increased its stake in shares of Global Payments by 13.4% in the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider’s stock valued at $330,516,000 after purchasing an additional 349,457 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Global Payments by 22.7% during the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after buying an additional 490,411 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Insider Transactions at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of Global Payments stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the transaction, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by company insiders.

Global Payments Stock Up 0.0 %

Global Payments stock opened at $112.92 on Friday. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. 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 $28.74 billion, a PE ratio of 21.27, a P/E/G ratio of 0.79 and a beta of 1.00. The firm’s 50 day moving average price is $112.82 and its two-hundred day moving average price is $108.00.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley raised their target price on Global Payments from $156.00 to $166.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods raised their target price on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $122.00 price objective (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. JPMorgan Chase & Co. cut their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group lowered their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $135.71.

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.