PNC Financial Services Group Inc. Has $4.95 Million Stake in Global Payments Inc. (NYSE:GPN)

PNC Financial Services Group Inc. trimmed its position in shares of Global Payments Inc. (NYSE:GPN) by 0.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 44,200 shares of the business services provider’s stock after selling 410 shares during the period. PNC Financial Services Group Inc.’s holdings in Global Payments were worth $4,953,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC acquired a new stake in Global Payments during the third quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Global Payments in the 4th quarter valued at approximately $37,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Global Payments in the 4th quarter valued at approximately $38,000. LRI Investments LLC boosted its stake in shares of Global Payments by 94.4% in the 3rd quarter. LRI Investments LLC now owns 517 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 251 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its stake in shares of Global Payments by 177.5% in the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 300 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the purchase, the director now owns 42,738 shares of the company’s stock, valued at approximately $4,957,608. The trade was a 15.70 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.98% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays reduced their price target on shares of Global Payments from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley reduced their price target on shares of Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. The Goldman Sachs Group reiterated a “neutral” rating and set a $122.00 target price (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. Bank of America cut their target price on shares of Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.33.

Global Payments Price Performance

GPN opened at $93.01 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. The company has a market capitalization of $23.03 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 0.86 and a beta of 1.04. The firm’s fifty day moving average price is $106.81 and its two-hundred day moving average price is $108.40. Global Payments Inc. has a 1 year low of $90.99 and a 1 year high of $140.38.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. As a group, analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, March 14th. Global Payments’s dividend payout ratio (DPR) is currently 16.18%.

Global Payments Company Profile

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.