DAVENPORT & Co LLC Grows Stake in Global Payments Inc. (NYSE:GPN)

DAVENPORT & Co LLC increased its holdings in shares of Global Payments Inc. (NYSE:GPN) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,147 shares of the business services provider’s stock after purchasing an additional 1,024 shares during the quarter. DAVENPORT & Co LLC’s holdings in Global Payments were worth $4,723,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GPN. Cromwell Holdings LLC purchased a new stake in shares of Global Payments during the 3rd quarter worth approximately $25,000. Beaird Harris Wealth Management LLC purchased a new stake in Global Payments in the third quarter valued at $25,000. Capital Performance Advisors LLP acquired a new position in Global Payments in the third quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after purchasing an additional 143 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Global Payments during the third quarter worth about $50,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on GPN shares. Keefe, Bruyette & Woods upped their target price 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 lowered 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. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group reissued a “neutral” rating and set a $122.00 price objective (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. Finally, Barclays upped their target price on shares of Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $135.71.

Global Payments Stock Performance

Shares of GPN stock opened at $110.62 on Tuesday. The stock has a fifty day moving average price of $112.82 and a 200 day moving average price of $108.07. 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 stock has a market cap of $28.15 billion, a PE ratio of 20.83, a P/E/G ratio of 0.81 and a beta of 1.01. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77.

Insider Activity

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the transaction, the director now directly owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.98% of the company’s stock.

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.