McKinley Carter Wealth Services Inc. Trims Holdings in Global Payments Inc. (NYSE:GPN)

McKinley Carter Wealth Services Inc. cut its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 92.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,973 shares of the business services provider's stock after selling 48,014 shares during the quarter. McKinley Carter Wealth Services Inc.'s holdings in Global Payments were worth $445,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC boosted its stake in Global Payments by 0.3% during the third quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider's stock valued at $2,760,000 after buying an additional 86 shares during the last quarter. Sage Capital Advisors llc boosted its position in shares of Global Payments by 0.3% during the 4th quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider's stock valued at $3,164,000 after acquiring an additional 96 shares during the last quarter. SYM FINANCIAL Corp grew its holdings in shares of Global Payments by 4.1% in the third quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider's stock valued at $250,000 after purchasing an additional 97 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC increased its position in Global Payments by 1.2% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider's stock worth $841,000 after purchasing an additional 98 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its stake in Global Payments by 27.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider's stock valued at $56,000 after purchasing an additional 116 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GPN shares. JPMorgan Chase & Co. reduced their target price 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. Keefe, Bruyette & Woods lifted their target price on Global Payments from $130.00 to $140.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Royal Bank of Canada cut their target price on Global Payments from $143.00 to $130.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Sanford C. Bernstein downgraded Global Payments from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group cut their price objective on shares of Global Payments from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Global Payments presently has a consensus rating of "Hold" and a consensus price target of $135.71.

Global Payments Stock Up 2.0 %

Shares of NYSE:GPN traded up $2.22 on Thursday, reaching $112.54. The company had a trading volume of 175,118 shares, compared to its average volume of 1,442,909. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $28.64 billion, a PE ratio of 21.20, a PEG ratio of 0.78 and a beta of 1.00. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The firm's 50 day simple moving average is $112.98 and its 200-day simple moving average is $107.87.

Insiders Place Their Bets

In other 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 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 of the company's stock, valued at approximately $4,957,608. The trade was a 15.70 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently owned by corporate insiders.

Global Payments Company 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.