DNB Asset Management AS increased its stake in Global Payments Inc (NYSE:GPN) by 94.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,341 shares of the business services provider’s stock after buying an additional 14,232 shares during the period. DNB Asset Management AS’s holdings in Global Payments were worth $4,665,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Lenox Wealth Advisors LLC bought a new position in Global Payments in the 2nd quarter worth $25,000. Next Capital Management LLC purchased a new stake in Global Payments in the 2nd quarter worth $25,000. Citizens Financial Group Inc RI purchased a new stake in Global Payments in the 2nd quarter worth $27,000. First Financial Corp IN purchased a new stake in Global Payments in the 3rd quarter worth $27,000. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in Global Payments in the 2nd quarter worth $34,000. Institutional investors own 97.09% of the company’s stock.
A number of brokerages have issued reports on GPN. Deutsche Bank increased their price target on Global Payments from $162.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wolfe Research set a $195.00 price target on Global Payments and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays raised their price objective on Global Payments from $195.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. set a $203.00 price objective on Global Payments and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, SunTrust Banks raised their price objective on Global Payments from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $177.97.
Shares of Global Payments stock traded up $1.27 on Friday, hitting $170.26. 895,225 shares of the company traded hands, compared to its average volume of 1,569,924. The company has a market cap of $26.09 billion, a PE ratio of 32.81, a PEG ratio of 1.69 and a beta of 0.98. Global Payments Inc has a 52 week low of $94.81 and a 52 week high of $175.95. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $162.19 and its 200-day moving average price is $159.29.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, October 31st. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.16 billion. Global Payments had a net margin of 10.59% and a return on equity of 9.05%. Global Payments’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 earnings per share. As a group, research analysts anticipate that Global Payments Inc will post 5.83 EPS for the current fiscal year.
In other news, Director William I. Jacobs sold 10,980 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $175.27, for a total transaction of $1,924,464.60. Following the sale, the director now directly owns 40,568 shares of the company’s stock, valued at $7,110,353.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $156.18, for a total transaction of $109,326.00. The disclosure for this sale can be found here. Insiders sold 37,287 shares of company stock valued at $6,203,454 in the last three months. 0.88% of the stock is currently owned by insiders.
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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