Global Payments Inc (GPN) Position Maintained by Affinity Wealth Management
Affinity Wealth Management continued to hold its position in shares of Global Payments Inc (NYSE:GPN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,860 shares of the business services provider’s stock at the end of the first quarter. Affinity Wealth Management’s holdings in Global Payments were worth $311,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Catalyst Capital Advisors LLC acquired a new position in shares of Global Payments during the third quarter valued at about $100,000. Raiff Partners Inc. acquired a new position in shares of Global Payments during the fourth quarter valued at about $104,000. Global X Management Co. LLC raised its position in shares of Global Payments by 90.7% in the third quarter. Global X Management Co. LLC now owns 1,943 shares of the business services provider’s stock valued at $149,000 after buying an additional 924 shares during the period. WFG Advisors LP raised its position in shares of Global Payments by 262.4% in the fourth quarter. WFG Advisors LP now owns 2,464 shares of the business services provider’s stock valued at $161,000 after buying an additional 1,784 shares during the period. Finally, Triangle Securities Wealth Management acquired a new position in shares of Global Payments during the first quarter valued at about $204,000. 97.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Global Payments Inc (NYSE:GPN) traded up 0.09% on Tuesday, reaching $78.65. The company’s stock had a trading volume of 320,107 shares. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 56.62 and a beta of 1.05. Global Payments Inc has a 52-week low of $64.63 and a 52-week high of $81.63. The stock has a 50-day moving average of $79.05 and a 200 day moving average of $75.33.
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Several brokerages have issued reports on GPN. Atlantic Securities began coverage on Global Payments in a research note on Wednesday, April 12th. They issued an “overweight” rating and a $91.00 price target on the stock. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Wednesday, January 11th. Barclays PLC upgraded Global Payments from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $88.00 to $92.00 in a report on Thursday, March 30th. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective (up previously from $87.00) on shares of Global Payments in a report on Tuesday, January 10th. Finally, Evercore ISI restated a “buy” rating and set a $96.00 price objective on shares of Global Payments in a report on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $85.85.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of Global Payments stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $78.83, for a total value of $512,395.00. Following the completion of the sale, the director now owns 299,252 shares of the company’s stock, valued at approximately $23,590,035.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $77.19, for a total value of $46,314.00. Following the completion of the sale, the director now directly owns 40,811 shares of the company’s stock, valued at approximately $3,150,201.09. The disclosure for this sale can be found here. Insiders have sold 20,300 shares of company stock valued at $1,611,357 in the last quarter. 1.10% of the stock is owned by company insiders.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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