PNC Financial Services Group Inc. grew its stake in Global Payments Inc (NYSE:GPN) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,978 shares of the business services provider’s stock after buying an additional 259 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Global Payments were worth $1,496,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC boosted its holdings in shares of Global Payments by 6.4% in the first quarter. Stephens Investment Management Group LLC now owns 53,565 shares of the business services provider’s stock valued at $7,313,000 after buying an additional 3,214 shares during the period. Wetherby Asset Management Inc. boosted its holdings in shares of Global Payments by 2.1% in the first quarter. Wetherby Asset Management Inc. now owns 10,635 shares of the business services provider’s stock valued at $1,452,000 after buying an additional 221 shares during the period. Psagot Investment House Ltd. boosted its holdings in shares of Global Payments by 93.8% in the fourth quarter. Psagot Investment House Ltd. now owns 24,613 shares of the business services provider’s stock valued at $2,538,000 after buying an additional 11,913 shares during the period. Conning Inc. boosted its holdings in shares of Global Payments by 3.7% in the first quarter. Conning Inc. now owns 2,510 shares of the business services provider’s stock valued at $343,000 after buying an additional 90 shares during the period. Finally, LS Investment Advisors LLC boosted its holdings in shares of Global Payments by 17.1% in the first quarter. LS Investment Advisors LLC now owns 7,263 shares of the business services provider’s stock valued at $992,000 after buying an additional 1,062 shares during the period. Institutional investors own 97.47% of the company’s stock.

Several research firms have recently weighed in on GPN. Robert W. Baird upped their price target on shares of Global Payments from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. BMO Capital Markets lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $164.00 to $173.00 in a research report on Wednesday, May 29th. Oppenheimer boosted their price objective on shares of Global Payments from $152.00 to $161.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 29th. Guggenheim raised shares of Global Payments from a “neutral” rating to a “buy” rating in a research report on Thursday, May 30th. Finally, Susquehanna Bancshares raised shares of Global Payments from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $130.00 to $170.00 in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $146.31.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $146.36, for a total transaction of $622,030.00. Following the sale, the director now directly owns 48,382 shares of the company’s stock, valued at $7,081,189.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan M. Silberstein sold 700 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $138.96, for a total transaction of $97,272.00. Following the sale, the director now directly owns 40,355 shares in the company, valued at $5,607,730.80. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

NYSE GPN opened at $158.81 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.03 and a current ratio of 1.03. Global Payments Inc has a 1 year low of $94.81 and a 1 year high of $162.81. The firm has a market cap of $24.96 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.61 and a beta of 1.08.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts anticipate that Global Payments Inc will post 5.81 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, June 13th. Global Payments’s dividend payout ratio (DPR) is currently 0.77%.

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About Global Payments

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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