Texas Permanent School Fund Corp decreased its position in Global Payments Inc. (NYSE:GPN – Free Report) by 2.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 53,721 shares of the business services provider’s stock after selling 1,208 shares during the period. Texas Permanent School Fund Corp’s holdings in Global Payments were worth $6,199,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Global Payments during the 4th quarter worth approximately $261,300,000. Boston Partners raised its stake in shares of Global Payments by 40.5% during the 3rd quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock worth $591,613,000 after purchasing an additional 1,481,714 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Global Payments during the 4th quarter worth approximately $131,733,000. Morgan Stanley raised its stake in shares of Global Payments by 50.0% during the 4th quarter. Morgan Stanley now owns 3,055,514 shares of the business services provider’s stock worth $303,474,000 after purchasing an additional 1,018,338 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Global Payments by 241.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,301,993 shares of the business services provider’s stock worth $128,704,000 after purchasing an additional 920,422 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.
Analysts Set New Price Targets
GPN has been the topic of a number of research analyst reports. Susquehanna dropped their price target on Global Payments from $180.00 to $150.00 and set a “positive” rating on the stock in a research note on Wednesday, November 1st. BTIG Research initiated coverage on Global Payments in a research note on Monday, November 20th. They issued a “buy” rating and a $135.00 price target on the stock. TheStreet upgraded Global Payments from a “c” rating to a “b-” rating in a research note on Thursday, February 1st. Raymond James dropped their price target on Global Payments from $155.00 to $147.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $154.00 price target on shares of Global Payments in a research note on Tuesday, December 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.37.
Global Payments Trading Down 0.5 %
NYSE GPN opened at $136.00 on Monday. The business has a 50 day simple moving average of $129.01 and a 200 day simple moving average of $121.48. Global Payments Inc. has a one year low of $94.05 and a one year high of $138.07. The stock has a market capitalization of $35.41 billion, a P/E ratio of 40.72, a P/E/G ratio of 0.83 and a beta of 1.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.09 and a quick ratio of 1.09.
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 three segments: Merchant Solutions, Issuer Solutions, and Consumer 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.
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