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

Cornerstone Management Inc. trimmed its stake in Global Payments Inc. (NYSE:GPN) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,279 shares of the business services provider’s stock after selling 197 shares during the quarter. Global Payments comprises 0.2% of Cornerstone Management Inc.’s portfolio, making the stock its 27th largest position. Cornerstone Management Inc.’s holdings in Global Payments were worth $1,152,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Algert Global LLC acquired a new position in Global Payments during the 2nd quarter valued at approximately $479,000. Sanctuary Advisors LLC bought a new stake in Global Payments in the second quarter worth about $900,000. Czech National Bank increased its holdings in shares of Global Payments by 6.6% in the third quarter. Czech National Bank now owns 51,831 shares of the business services provider’s stock valued at $5,309,000 after buying an additional 3,190 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Global Payments by 7.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 64,736 shares of the business services provider’s stock valued at $6,630,000 after purchasing an additional 4,611 shares during the period. Finally, Fulton Bank N.A. purchased a new stake in shares of Global Payments in the 3rd quarter valued at approximately $235,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GPN shares. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. 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 report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Stephens cut shares of Global Payments from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $125.00 to $120.00 in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $135.71.

Insider Buying and Selling

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the business’s stock in a transaction on Friday, December 13th. The stock was bought at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares in the company, valued at $4,957,608. The trade was 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 link. 0.98% of the stock is owned by corporate insiders.

Global Payments Stock Performance

GPN stock opened at $110.62 on Tuesday. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The firm has a 50-day simple moving average of $112.82 and a two-hundred day simple moving average of $108.07. 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 firm has a market cap of $28.15 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 0.81 and a beta of 1.01.

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.