State of Alaska Department of Revenue Reduces Position in Global Payments Inc. (NYSE:GPN)

State of Alaska Department of Revenue trimmed its position in Global Payments Inc. (NYSE:GPN) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,018 shares of the business services provider’s stock after selling 540 shares during the quarter. State of Alaska Department of Revenue’s holdings in Global Payments were worth $3,251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cromwell Holdings LLC purchased a new stake in shares of Global Payments in the third quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Global Payments in the third quarter valued at approximately $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Global Payments in the 3rd quarter worth $33,000. Whittier Trust Co. of Nevada Inc. raised its stake in 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 period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Global Payments during the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

GPN has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. The Goldman Sachs Group restated 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. Sanford C. Bernstein lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $135.00 to $112.00 in a research note on Tuesday, October 22nd. Jefferies Financial Group cut their target price 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. Finally, Stephens cut 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. One 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $135.71.

Global Payments Price Performance

NYSE GPN opened at $109.53 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $112.01 and a 200 day simple moving average of $108.37. The company has a market cap of $27.87 billion, a P/E ratio of 20.63, a P/E/G ratio of 0.80 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.

Insiders Place Their Bets

In other Global Payments news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the business’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the transaction, the director now owns 42,738 shares in the company, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.98% of the company’s stock.

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.