Global Payments Inc. (NYSE:GPN) Shares Sold by Spire Wealth Management

Spire Wealth Management cut its stake in Global Payments Inc. (NYSE:GPN) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,997 shares of the business services provider’s stock after selling 339 shares during the quarter. Spire Wealth Management’s holdings in Global Payments were worth $448,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GPN. Cromwell Holdings LLC purchased a new position in shares of Global Payments in the third quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC acquired a new position in Global Payments in the 3rd quarter valued at $25,000. Capital Performance Advisors LLP purchased a new position in Global Payments in the 3rd quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. boosted its stake in 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 purchased a new stake in shares of Global Payments during the third quarter worth $50,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GPN shares. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley raised their target price on shares of Global Payments from $156.00 to $166.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Stephens lowered Global Payments from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $125.00 to $120.00 in a research report on Friday, January 10th. The Goldman Sachs Group reiterated a “neutral” rating and set a $122.00 price objective (down previously from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. Finally, Jefferies Financial Group dropped their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $135.71.

Insiders Place Their Bets

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares in the company, valued at approximately $4,957,608. The trade was a 15.70 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.98% of the company’s stock.

Global Payments Price Performance

GPN opened at $111.72 on Thursday. The stock’s 50-day moving average price is $112.52 and its 200 day moving average price is $108.20. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The firm has a market cap of $28.43 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 0.81 and a beta of 1.01. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

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.