Oakworth Capital Inc. Sells 425 Shares of Global Payments Inc. (NYSE:GPN)

Oakworth Capital Inc. lowered its position in Global Payments Inc. (NYSE:GPN) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,085 shares of the business services provider’s stock after selling 425 shares during the period. Oakworth Capital Inc.’s holdings in Global Payments were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GPN. Massachusetts Financial Services Co. MA raised its stake in shares of Global Payments by 65.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after acquiring an additional 785,539 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Global Payments by 1,559.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 548,833 shares of the business services provider’s stock valued at $61,502,000 after acquiring an additional 515,763 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Global Payments by 22.7% during the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after acquiring an additional 490,411 shares in the last quarter. Soros Fund Management LLC bought a new stake in shares of Global Payments during the third quarter valued at approximately $47,113,000. Finally, Blue Trust Inc. raised its stake in shares of Global Payments by 925.5% during the fourth quarter. Blue Trust Inc. now owns 417,832 shares of the business services provider’s stock valued at $42,794,000 after acquiring an additional 377,087 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. cut their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $122.00 price objective (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Sanford C. Bernstein lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $135.00 to $112.00 in a report on Tuesday, October 22nd. Finally, Morgan Stanley lifted their price objective on shares of Global Payments from $156.00 to $166.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $135.71.

Insider Activity at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.98% of the stock is currently owned by insiders.

Global Payments Price Performance

Shares of GPN opened at $111.72 on Thursday. The firm has a market capitalization of $28.43 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 0.81 and a beta of 1.01. The company’s fifty day moving average price is $112.36 and its 200-day moving average price is $108.23. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

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.