MassMutual Private Wealth & Trust FSB Buys 2,495 Shares of Global Payments Inc. (NYSE:GPN)

MassMutual Private Wealth & Trust FSB raised its stake in shares of Global Payments Inc. (NYSE:GPN) by 770.1% during the 4th quarter, HoldingsChannel reports. The firm owned 2,819 shares of the business services provider’s stock after purchasing an additional 2,495 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Global Payments were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Cromwell Holdings LLC acquired a new position in Global Payments in the 3rd quarter valued at $25,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Global Payments in the third quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in shares of Global Payments in the third quarter worth about $33,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Global Payments by 59.6% during the 3rd 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 bought a new stake in Global Payments during the 3rd quarter valued at approximately $50,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. TD Cowen dropped their price target on Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 25th. BMO Capital Markets decreased their price target on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 25th. KeyCorp cut their price objective on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $122.00 target price (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $135.71.

Insiders Place Their Bets

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of Global Payments stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the acquisition, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.98% of the company’s stock.

Global Payments Stock Down 0.0 %

NYSE:GPN opened at $108.52 on Thursday. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 0.78 and a beta of 1.00. 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’s fifty day moving average price is $113.72 and its two-hundred day moving average price is $107.39. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.25 dividend. 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 payout ratio is 18.83%.

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.