Koa Wealth Management LLC Has $1.99 Million Stock Position in Global Payments Inc. (NYSE:GPN)

Koa Wealth Management LLC cut its holdings in Global Payments Inc. (NYSE:GPN) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,789 shares of the business services provider’s stock after selling 1,644 shares during the period. Global Payments comprises approximately 1.6% of Koa Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding. Koa Wealth Management LLC’s holdings in Global Payments were worth $1,993,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Tidal Investments LLC boosted its position in Global Payments by 0.3% during the third quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock valued at $2,760,000 after purchasing an additional 86 shares during the last quarter. Sage Capital Advisors llc boosted its holdings in shares of Global Payments by 0.3% in the 4th quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider’s stock valued at $3,164,000 after buying an additional 96 shares during the last quarter. SYM FINANCIAL Corp grew its stake in shares of Global Payments by 4.1% in the third quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock valued at $250,000 after buying an additional 97 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC increased its holdings in Global Payments by 1.2% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after buying an additional 98 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in Global Payments by 27.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock worth $56,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Insider Transactions at Global Payments

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stephens lowered shares of Global Payments from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. Keefe, Bruyette & Woods boosted their price target on Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Royal Bank of Canada cut their price objective on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Sanford C. Bernstein lowered Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $135.00 to $112.00 in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group dropped their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $135.71.

Global Payments Price Performance

Shares of GPN stock opened at $112.92 on Friday. The business has a fifty day simple moving average of $112.98 and a 200 day simple moving average of $107.87. The company has a market cap of $28.74 billion, a P/E ratio of 21.27, a P/E/G ratio of 0.79 and a beta of 1.00. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77.

Global Payments 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.