LSV Asset Management Increases Position in Global Payments Inc. $GPN

LSV Asset Management grew its holdings in Global Payments Inc. (NYSE:GPN) by 22.7% during the third quarter, HoldingsChannel reports. The firm owned 342,600 shares of the business services provider’s stock after acquiring an additional 63,400 shares during the period. LSV Asset Management’s holdings in Global Payments were worth $28,463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pettee Investors Inc. grew its holdings in Global Payments by 24.1% in the 2nd quarter. Pettee Investors Inc. now owns 15,672 shares of the business services provider’s stock valued at $1,254,000 after buying an additional 3,040 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Global Payments by 260.5% during the 3rd quarter. Independent Advisor Alliance now owns 29,446 shares of the business services provider’s stock worth $2,446,000 after acquiring an additional 21,278 shares during the period. BIP Wealth LLC boosted its position in shares of Global Payments by 151.6% during the 3rd quarter. BIP Wealth LLC now owns 30,103 shares of the business services provider’s stock valued at $2,501,000 after acquiring an additional 18,138 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Global Payments during the 3rd quarter valued at about $905,000. Finally, HB Wealth Management LLC grew its holdings in shares of Global Payments by 213.9% in the third quarter. HB Wealth Management LLC now owns 36,861 shares of the business services provider’s stock valued at $3,062,000 after purchasing an additional 25,118 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on GPN. Truist Financial set a $85.00 target price on shares of Global Payments in a research note on Tuesday, January 20th. Rothschild & Co Redburn raised their price target on shares of Global Payments from $65.00 to $70.00 and gave the stock a “sell” rating in a report on Wednesday, December 3rd. Stephens decreased their price objective on Global Payments from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Friday, January 16th. UBS Group reiterated a “neutral” rating and issued a $93.00 price objective on shares of Global Payments in a research report on Wednesday, January 21st. Finally, Cantor Fitzgerald raised Global Payments to a “hold” rating in a research note on Tuesday, January 27th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Global Payments currently has a consensus rating of “Hold” and an average price target of $91.75.

Insiders Place Their Bets

In other news, Director Robert H. B. Baldwin, Jr. purchased 10,392 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were bought at an average cost of $81.42 per share, for a total transaction of $846,116.64. Following the completion of the purchase, the director directly owned 59,303 shares of the company’s stock, valued at approximately $4,828,450.26. This trade represents a 21.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David M. Sheffield sold 2,016 shares of Global Payments stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $81.41, for a total value of $164,122.56. Following the completion of the sale, the executive vice president directly owned 14,438 shares of the company’s stock, valued at $1,175,397.58. The trade was a 12.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.01% of the stock is owned by insiders.

Global Payments Stock Performance

Shares of GPN stock opened at $68.47 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $16.21 billion, a P/E ratio of 9.62, a P/E/G ratio of 0.45 and a beta of 0.76. The firm’s 50 day moving average price is $76.37 and its 200-day moving average price is $80.57. Global Payments Inc. has a one year low of $65.93 and a one year high of $107.27.

Global Payments Company Profile

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.