Global Payments Inc. (NYSE:GPN) Shares Sold by Traynor Capital Management Inc.

Traynor Capital Management Inc. cut its stake in shares of Global Payments Inc. (NYSE:GPN) by 17.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,930 shares of the business services provider’s stock after selling 1,451 shares during the period. Traynor Capital Management Inc.’s holdings in Global Payments were worth $777,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in Global Payments by 22.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 31,545 shares of the business services provider’s stock valued at $3,535,000 after buying an additional 5,715 shares in the last quarter. Red Spruce Capital LLC boosted its stake in Global Payments by 1.6% in the 4th quarter. Red Spruce Capital LLC now owns 22,766 shares of the business services provider’s stock worth $2,551,000 after purchasing an additional 350 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Global Payments by 770.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,819 shares of the business services provider’s stock worth $316,000 after purchasing an additional 2,495 shares in the last quarter. Ellsworth Advisors LLC acquired a new stake in Global Payments during the 4th quarter valued at $4,572,000. Finally, Lbmc Investment Advisors LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at $204,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Global Payments

In other Global Payments 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GPN shares. Royal Bank of Canada decreased their price objective on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Oppenheimer initiated coverage on shares of Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $122.00 price target (down from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. TD Cowen reduced their price objective on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, B. Riley dropped their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Global Payments currently has an average rating of “Hold” and an average target price of $135.71.

Global Payments Stock Down 0.0 %

GPN stock opened at $108.52 on Thursday. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. 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 company has a market cap of $27.62 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 0.78 and a beta of 1.00. The business’s 50-day simple moving average is $113.72 and its 200 day simple moving average is $107.39.

Global Payments Dividend Announcement

The company also recently disclosed 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. 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 presently 18.83%.

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.