Lecap Asset Management Ltd. Invests $2.78 Million in Global Payments Inc. (NYSE:GPN)

Lecap Asset Management Ltd. purchased a new position in shares of Global Payments Inc. (NYSE:GPN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,830 shares of the business services provider’s stock, valued at approximately $2,782,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its stake in shares of Global Payments by 0.3% during the 3rd quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock valued at $2,760,000 after buying an additional 86 shares during the period. Sage Capital Advisors llc raised its holdings in shares of Global Payments by 0.3% during the fourth quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider’s stock worth $3,164,000 after acquiring an additional 96 shares in the last quarter. SYM FINANCIAL Corp boosted its position in Global Payments by 4.1% during the third quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 97 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its stake in Global Payments by 1.2% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 98 shares in the last quarter. Finally, Greenleaf Trust increased its position in Global Payments by 5.9% in the 4th quarter. Greenleaf Trust now owns 2,068 shares of the business services provider’s stock worth $232,000 after purchasing an additional 115 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the purchase, the director now owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.98% of the stock is owned by company insiders.

Global Payments Price Performance

Shares of Global Payments stock opened at $110.93 on Friday. 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 company has a market cap of $28.23 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 0.81 and a beta of 1.01. The firm has a fifty day moving average price of $112.36 and a two-hundred day moving average price of $108.23. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Analyst Ratings Changes

Several brokerages have recently issued reports on GPN. Jefferies Financial Group reduced their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. 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 research note on Monday, December 9th. Sanford C. Bernstein lowered 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 note on Tuesday, October 22nd. Royal Bank of Canada cut their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Barclays upped their price objective on shares of Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $135.71.

About Global Payments

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.