Global Payments Inc. (NYSE:GPN) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,026 shares of the business services provider's stock after selling 26,375 shares during the quarter. Wedge Capital Management L L P NC's holdings in Global Payments were worth $11,769,000 as of its most recent SEC filing.

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

Insider Activity at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was purchased 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 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GPN shares. Oppenheimer assumed coverage on Global Payments in a report on Tuesday, October 1st. They set a "market perform" rating for the company. Keefe, Bruyette & Woods lifted their target price 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. BTIG Research cut shares of Global Payments from a "buy" rating to a "neutral" rating in a report on Wednesday, September 25th. B. Riley reduced their price objective on shares of Global Payments from $204.00 to $194.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group dropped their target price on 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 investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $135.71.

Global Payments Trading Down 0.6 %

NYSE:GPN traded down $0.69 on Friday, reaching $108.41. The stock had a trading volume of 2,574,832 shares, compared to its average volume of 1,141,367. The company has a market cap of $27.59 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 0.75 and a beta of 1.00. Global Payments Inc. has a 12-month low of $91.60 and a 12-month 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. The firm's fifty day moving average is $114.01 and its two-hundred day moving average is $107.15.

Global Payments Dividend Announcement

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

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.