Coronation Fund Managers Ltd. Has $34.45 Million Stock Position in Global Payments Inc. (NYSE:GPN)

Coronation Fund Managers Ltd. increased its stake in shares of Global Payments Inc. (NYSE:GPN) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 307,436 shares of the business services provider’s stock after purchasing an additional 31,436 shares during the period. Global Payments makes up approximately 2.0% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 18th largest holding. Coronation Fund Managers Ltd.’s holdings in Global Payments were worth $34,451,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cromwell Holdings LLC acquired a new position in shares of Global Payments during the 3rd quarter worth about $25,000. Beaird Harris Wealth Management LLC bought a new position in Global Payments during the 3rd quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in Global Payments during the third quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. increased 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 purchasing an additional 143 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in Global Payments in the third quarter valued at approximately $50,000. Institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

NYSE:GPN opened at $109.53 on Monday. The stock’s 50-day simple moving average is $112.01 and its 200 day simple moving average is $108.37. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $27.87 billion, a P/E ratio of 20.63, a P/E/G ratio of 0.80 and a beta of 1.01.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Morgan Stanley lifted their target price on Global Payments from $156.00 to $166.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Barclays lifted their price objective on Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Sanford C. Bernstein cut Global Payments from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $135.00 to $112.00 in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $135.71.

Insiders Place Their Bets

In other news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $116.00 per share, with a total value of $672,800.00. Following the transaction, the director now directly owns 42,738 shares in the company, valued at approximately $4,957,608. The trade was a 15.70 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

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.