Global Payments Inc. (NYSE:GPN) Shares Purchased by US Bancorp DE

US Bancorp DE raised its position in Global Payments Inc. (NYSE:GPN) by 15.0% in the 3rd quarter, Holdings Channel reports. The fund owned 47,222 shares of the business services provider’s stock after acquiring an additional 6,142 shares during the period. US Bancorp DE’s holdings in Global Payments were worth $4,837,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GPN. Cromwell Holdings LLC acquired a new stake in shares of Global Payments in the 3rd quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Global Payments in the first quarter valued at about $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments in the first quarter valued at about $32,000. POM Investment Strategies LLC acquired a new stake in shares of Global Payments in the second quarter valued at about $32,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

GPN has been the subject of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research note on Wednesday, September 25th. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Barclays dropped their target price on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Stephens dropped their target price on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, William Blair downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Global Payments Price Performance

Global Payments stock opened at $105.15 on Tuesday. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The firm has a 50 day moving average price of $104.50 and a 200 day moving average price of $103.85. The company has a market cap of $26.75 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.77 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.92 and a current ratio of 0.93.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a net margin of 13.61% and a return on equity of 11.94%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm earned $2.48 earnings per share. Global Payments’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Global Payments Inc. will post 11.05 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. Global Payments’s dividend payout ratio (DPR) is 18.83%.

Insider Buying and Selling at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

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.