Pacer Advisors Inc. Buys 1,507 Shares of Global Payments Inc. (NYSE:GPN)

Pacer Advisors Inc. raised its position in Global Payments Inc. (NYSE:GPN) by 8.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,374 shares of the business services provider’s stock after buying an additional 1,507 shares during the period. Pacer Advisors Inc.’s holdings in Global Payments were worth $2,283,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPN. Algert Global LLC acquired a new stake in Global Payments in the second quarter worth about $479,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Global Payments by 35.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 28,962 shares of the business services provider’s stock worth $2,801,000 after buying an additional 7,615 shares during the period. Quarry LP raised its stake in shares of Global Payments by 134.4% during the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after buying an additional 293 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Global Payments in the second quarter valued at approximately $900,000. Finally, Czech National Bank boosted its stake in 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 acquiring an additional 3,190 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of Global Payments stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $116.00 per share, with a total value of $672,800.00. Following the completion of the transaction, the director now owns 42,738 shares of the company’s stock, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $122.00 price target (down previously from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. Royal Bank of Canada reduced their target price on Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group lowered their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Barclays lifted their price objective on shares of Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $135.71.

Global Payments Stock Up 0.0 %

Global Payments stock opened at $112.92 on Friday. The company has a fifty day simple moving average of $112.90 and a 200 day simple moving average of $107.91. 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 1-year low of $91.60 and a 1-year high of $141.77. The company has a market cap of $28.74 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 0.79 and a beta of 1.00.

About Global Payments

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.