Tectonic Advisors LLC Raises Stock Position in Global Payments Inc. (NYSE:GPN)

Tectonic Advisors LLC raised its stake in shares of Global Payments Inc. (NYSE:GPN) by 11.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,967 shares of the business services provider’s stock after buying an additional 399 shares during the period. Tectonic Advisors LLC’s holdings in Global Payments were worth $445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GPN. Pzena Investment Management LLC increased its position in Global Payments by 3.4% during the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after acquiring an additional 215,399 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Global Payments by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock valued at $605,078,000 after purchasing an additional 31,934 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Global Payments by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock worth $564,437,000 after purchasing an additional 83,481 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Global Payments by 13.4% in the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider’s stock worth $330,516,000 after buying an additional 349,457 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Global Payments by 22.7% during the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after buying an additional 490,411 shares during the period. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Down 0.8 %

Shares of NYSE GPN opened at $110.93 on Friday. 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 Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The firm’s 50-day moving average price is $112.36 and its 200-day moving average price is $108.23. The stock has a market capitalization of $28.23 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 0.81 and a beta of 1.01.

Wall Street Analyst Weigh In

GPN has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley upped their price target on Global Payments from $156.00 to $166.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Stephens cut shares of Global Payments from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $122.00 price target (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $135.71.

Insider Buying and Selling at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $116.00 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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.