PNC Financial Services Group Inc. Buys 846 Shares of Global Payments Inc. (NYSE:GPN)

PNC Financial Services Group Inc. increased its stake in shares of Global Payments Inc. (NYSE:GPN) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 44,610 shares of the business services provider’s stock after acquiring an additional 846 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Global Payments were worth $4,569,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cromwell Holdings LLC bought a new stake in shares of Global Payments during the third quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in Global Payments during the 1st quarter worth approximately $31,000. LRI Investments LLC bought a new stake in Global Payments in the 1st quarter valued at $32,000. POM Investment Strategies LLC acquired a new position in Global Payments in the 2nd quarter valued at $32,000. Finally, Capital Performance Advisors LLP bought a new position in Global Payments during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer started coverage on shares of Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Royal Bank of Canada decreased their target price on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Stephens dropped their price target on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. BNP Paribas upgraded Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. Finally, StockNews.com downgraded Global Payments from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and an average price target of $136.57.

Global Payments Stock Performance

NYSE GPN opened at $117.08 on Monday. The company has a market capitalization of $29.80 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.89 and a beta of 0.97. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. The stock has a fifty day simple moving average of $105.86 and a 200 day simple moving average of $103.45.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio is currently 18.83%.

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.