Oppenheimer Asset Management Inc. Buys 42,487 Shares of Global Payments Inc. $GPN

Oppenheimer Asset Management Inc. raised its stake in shares of Global Payments Inc. (NYSE:GPN) by 77.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,679 shares of the business services provider’s stock after purchasing an additional 42,487 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Global Payments were worth $8,115,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. North Star Investment Management Corp. boosted its holdings in shares of Global Payments by 242.2% during the 3rd quarter. North Star Investment Management Corp. now owns 308 shares of the business services provider’s stock worth $26,000 after buying an additional 218 shares during the period. Root Financial Partners LLC bought a new position in Global Payments in the 3rd quarter worth $27,000. SouthState Bank Corp acquired a new position in Global Payments during the 3rd quarter worth $28,000. LRI Investments LLC boosted its holdings in Global Payments by 53.4% during the second quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 133 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of Global Payments in the third quarter valued at about $37,000. Institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 10,392 shares of the stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $81.42 per share, with a total value of $846,116.64. Following the acquisition, the director directly owned 59,303 shares of the company’s stock, valued at $4,828,450.26. This represents a 21.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David Lawrence Green sold 11,600 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $79.99, for a total transaction of $927,884.00. Following the completion of the transaction, the insider owned 68,096 shares of the company’s stock, valued at approximately $5,446,999.04. This represents a 14.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GPN. UBS Group reissued a “neutral” rating and set a $93.00 price objective on shares of Global Payments in a research report on Wednesday, January 21st. Evercore dropped their price target on Global Payments from $90.00 to $85.00 in a research report on Tuesday, November 11th. Cantor Fitzgerald upgraded Global Payments to a “hold” rating in a report on Tuesday, January 27th. Rothschild & Co Redburn raised their price objective on shares of Global Payments from $65.00 to $70.00 and gave the stock a “sell” rating in a research note on Wednesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Global Payments in a research report on Wednesday, January 14th. They set a “hold” rating and a $80.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $97.82.

Global Payments Stock Performance

GPN opened at $73.25 on Wednesday. The stock’s 50 day simple moving average is $76.95 and its 200-day simple moving average is $80.83. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a market cap of $17.34 billion, a PE ratio of 10.29, a P/E/G ratio of 0.47 and a beta of 0.76. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $110.02.

About Global Payments

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.