1,926 Shares in Global Payments Inc. (NYSE:GPN) Purchased by Cidel Asset Management Inc.

Cidel Asset Management Inc. purchased a new stake in shares of Global Payments Inc. (NYSE:GPN) in the 4th quarter, Holdings Channel reports. The fund purchased 1,926 shares of the business services provider’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Cromwell Holdings LLC acquired a new stake in shares of Global Payments in the 3rd quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC bought a new stake in Global Payments during the third quarter worth $25,000. Capital Performance Advisors LLP bought a new stake in Global Payments during the third quarter worth $33,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 143 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Global Payments in the 3rd quarter valued at about $50,000. 89.76% of the stock is currently owned by institutional investors.

Global Payments Stock Performance

GPN opened at $109.53 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The firm has a market cap of $27.87 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 0.80 and a beta of 1.01. The business’s fifty day moving average is $112.01 and its 200-day moving average is $108.37.

Insider Buying and Selling

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of Global Payments stock in a transaction on 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 acquisition, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stephens downgraded shares of Global Payments from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $125.00 to $120.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. reduced their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Sanford C. Bernstein lowered Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $135.00 to $112.00 in a report on Tuesday, October 22nd. Jefferies Financial Group cut their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Global Payments presently has a consensus rating of “Hold” and an average price target of $135.71.

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.