PNC Financial Services Group Inc. Sells 6,607 Shares of Global Payments Inc. $GPN

PNC Financial Services Group Inc. trimmed its position in shares of Global Payments Inc. (NYSE:GPN) by 15.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,921 shares of the business services provider’s stock after selling 6,607 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Global Payments were worth $2,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC lifted its holdings in shares of Global Payments by 53.4% in the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after acquiring an additional 133 shares during the last quarter. Larson Financial Group LLC lifted its stake in Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock worth $37,000 after purchasing an additional 317 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Global Payments during the first quarter valued at approximately $37,000. Quarry LP bought a new position in shares of Global Payments during the first quarter valued at approximately $42,000. Finally, WPG Advisers LLC bought a new position in shares of Global Payments during the first quarter valued at approximately $49,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling

In other Global Payments news, Director Connie D. Mcdaniel sold 4,464 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $77.81, for a total transaction of $347,343.84. Following the completion of the sale, the director owned 30,014 shares in the company, valued at $2,335,389.34. This represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia A. Watson bought 1,331 shares of the company’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $75.06 per share, for a total transaction of $99,904.86. Following the transaction, the director directly owned 2,651 shares in the company, valued at approximately $198,984.06. This represents a 100.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.01% of the company’s stock.

Global Payments Stock Performance

GPN stock opened at $72.04 on Wednesday. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The business has a 50-day moving average price of $83.18 and a 200 day moving average price of $81.93. The company has a market capitalization of $17.06 billion, a P/E ratio of 12.59, a PEG ratio of 0.76 and a beta of 0.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.03. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. During the same period in the prior year, the business earned $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. As a group, equities research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, December 12th. Global Payments’s dividend payout ratio (DPR) is presently 14.04%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GPN. Wells Fargo & Company raised Global Payments to a “strong-buy” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their target price on Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Mizuho upgraded shares of Global Payments from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $86.00 to $114.00 in a report on Friday, July 25th. TD Cowen raised their price target on shares of Global Payments from $92.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Finally, Cowen reissued a “hold” rating on shares of Global Payments in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $103.90.

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.