Fulton Bank N.A. Sells 192 Shares of Global Payments Inc. (NYSE:GPN)

Fulton Bank N.A. lessened its position in Global Payments Inc. (NYSE:GPN) by 8.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,106 shares of the business services provider’s stock after selling 192 shares during the period. Fulton Bank N.A.’s holdings in Global Payments were worth $236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in Global Payments by 13.4% during the fourth quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider’s stock valued at $330,516,000 after purchasing an additional 349,457 shares during the period. GAMMA Investing LLC increased its holdings in Global Payments by 18.8% during the fourth quarter. GAMMA Investing LLC now owns 2,118 shares of the business services provider’s stock valued at $237,000 after buying an additional 335 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Global Payments by 2.8% during the third quarter. Principal Financial Group Inc. now owns 299,137 shares of the business services provider’s stock valued at $30,638,000 after buying an additional 8,078 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Global Payments by 10.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 8,569 shares of the business services provider’s stock valued at $873,000 after buying an additional 819 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC purchased a new stake in Global Payments during the third quarter valued at approximately $25,000. Institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GPN. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. Stephens cut shares of Global Payments from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $125.00 to $120.00 in a report on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $122.00 target price (down from $155.00) on shares of Global Payments in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $135.71.

Global Payments Price Performance

GPN stock opened at $105.89 on Friday. Global Payments Inc. has a 52 week low of $91.60 and a 52 week 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 fifty day simple moving average of $114.19 and a two-hundred day simple moving average of $106.64. The firm has a market capitalization of $26.95 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 0.88 and a beta of 1.00.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.94%. Global Payments’s dividend payout ratio (DPR) is currently 18.83%.

Insider Buying and Selling at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the acquisition, the director now owns 42,738 shares of the company’s stock, valued at $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by company 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.