OLD National Bancorp IN Decreases Holdings in Global Payments Inc. (NYSE:GPN)

OLD National Bancorp IN trimmed its position in Global Payments Inc. (NYSE:GPN - Free Report) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,711 shares of the business services provider's stock after selling 2,411 shares during the quarter. OLD National Bancorp IN's holdings in Global Payments were worth $10,389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GPN. Cromwell Holdings LLC bought a new position in Global Payments in the 3rd quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC bought a new position in Global Payments in the third quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Global Payments during the third quarter valued at about $33,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider's stock worth $39,000 after purchasing an additional 143 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Global Payments by 134.4% in the second quarter. Quarry LP now owns 511 shares of the business services provider's stock valued at $49,000 after buying an additional 293 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $116.00 per share, with a total value of $672,800.00. Following the transaction, the director now owns 42,738 shares of the company's stock, valued at $4,957,608. This represents 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 the SEC website. 0.98% of the stock is currently owned by insiders.

Global Payments Stock Down 1.7 %

GPN stock traded down $1.96 during midday trading on Monday, reaching $110.90. 866,387 shares of the company's stock traded hands, compared to its average volume of 1,481,562. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average price is $112.82 and its 200-day moving average price is $108.07. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 0.81 and a beta of 1.01.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GPN. Stephens lowered shares of Global Payments from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $125.00 to $120.00 in a report on Friday, January 10th. JPMorgan Chase & Co. reduced their price objective on shares of Global Payments from $118.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 29th. 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 report on Wednesday, October 16th. Royal Bank of Canada reduced their price target 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. Finally, Sanford C. Bernstein downgraded shares of Global Payments from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $135.71.

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.