M&T Bank Corp raised its position in Global Payments Inc (NYSE:GPN) by 4.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 43,176 shares of the business services provider’s stock after purchasing an additional 1,690 shares during the period. M&T Bank Corp’s holdings in Global Payments were worth $7,323,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Iberiabank Corp grew its holdings in shares of Global Payments by 1,554.1% during the second quarter. Iberiabank Corp now owns 36,588 shares of the business services provider’s stock worth $6,206,000 after buying an additional 34,376 shares in the last quarter. Sciencast Management LP purchased a new stake in Global Payments during the 2nd quarter valued at about $442,000. Pacer Advisors Inc. raised its holdings in Global Payments by 1,548.9% in the 2nd quarter. Pacer Advisors Inc. now owns 25,343 shares of the business services provider’s stock valued at $4,299,000 after acquiring an additional 23,806 shares during the last quarter. Intact Investment Management Inc. purchased a new position in Global Payments in the 2nd quarter worth approximately $526,000. Finally, Costello Asset Management INC acquired a new position in shares of Global Payments during the 2nd quarter worth approximately $44,000. 87.89% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on GPN. Susquehanna Bancshares reduced their price objective on Global Payments from $235.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, April 9th. Oppenheimer boosted their price target on shares of Global Payments from $190.00 to $202.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Morgan Stanley raised their price objective on shares of Global Payments from $147.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Zacks Investment Research raised shares of Global Payments from a “sell” rating to a “hold” rating and set a $176.00 target price on the stock in a research note on Wednesday, May 13th. Finally, Cfra reissued a “buy” rating and issued a $165.00 price target on shares of Global Payments in a research note on Tuesday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. Global Payments has a consensus rating of “Buy” and a consensus target price of $194.31.
In other Global Payments news, Director Ruth Ann Marshall sold 1,600 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $176.05, for a total transaction of $281,680.00. Following the sale, the director now owns 41,641 shares in the company, valued at approximately $7,330,898.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William I. Jacobs sold 500 shares of the stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $166.25, for a total value of $83,125.00. Following the completion of the sale, the director now directly owns 24,893 shares in the company, valued at approximately $4,138,461.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,297 shares of company stock valued at $1,971,082. Insiders own 0.88% of the company’s stock.
Shares of NYSE:GPN opened at $178.02 on Friday. The firm has a market capitalization of $53.25 billion, a PE ratio of 83.58, a price-to-earnings-growth ratio of 2.07 and a beta of 1.14. Global Payments Inc has a 1 year low of $105.54 and a 1 year high of $209.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s 50-day moving average is $171.93 and its two-hundred day moving average is $173.70.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Global Payments had a net margin of 7.79% and a return on equity of 6.46%. The business’s quarterly revenue was up 115.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 earnings per share. Analysts expect that Global Payments Inc will post 5.61 EPS for the current fiscal year.
Global Payments Profile
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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