Avanza Fonder AB Makes New $2.15 Million Investment in Global Payments Inc. (NYSE:GPN)

Avanza Fonder AB bought a new position in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,224 shares of the business services provider's stock, valued at approximately $2,154,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Retireful LLC lifted its stake in shares of Global Payments by 231.0% in the fourth quarter. Retireful LLC now owns 19,716 shares of the business services provider's stock valued at $2,209,000 after buying an additional 13,760 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Global Payments by 27.9% during the 4th quarter. Park Avenue Securities LLC now owns 7,358 shares of the business services provider's stock worth $825,000 after purchasing an additional 1,604 shares in the last quarter. Assenagon Asset Management S.A. increased its position 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 purchasing an additional 515,763 shares during the period. SS&H Financial Advisors Inc. increased its position in shares of Global Payments by 14.8% during the 4th quarter. SS&H Financial Advisors Inc. now owns 4,759 shares of the business services provider's stock worth $534,000 after purchasing an additional 614 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in Global Payments by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,708 shares of the business services provider's stock valued at $303,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

Insider Activity

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company's stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the transaction, the director now directly owns 42,738 shares in the company, valued at $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 this hyperlink. 0.98% of the stock is owned by company insiders.

Global Payments Trading Down 0.6 %

Global Payments stock traded down $0.69 during midday trading on Friday, hitting $108.41. 2,574,832 shares of the stock were exchanged, compared to its average volume of 1,141,367. The stock has a market capitalization of $27.59 billion, a PE ratio of 20.42, a P/E/G ratio of 0.75 and a beta of 1.00. The company has a fifty day simple moving average of $114.01 and a two-hundred day simple moving average of $107.15. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. Global Payments's dividend payout ratio is 18.83%.

Analyst Ratings Changes

Several analysts have recently weighed in on GPN shares. Barclays raised their price objective on shares of Global Payments from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. BTIG Research downgraded Global Payments from a "buy" rating to a "neutral" rating in a research report on Wednesday, September 25th. Oppenheimer began coverage on Global Payments in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Jefferies Financial Group lowered their target price 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. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $122.00 price target (down previously from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price 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.