Global Payments Inc. (NYSE:GPN) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Global Payments Inc. (NYSE:GPNFree Report) by 42.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 34,746 shares of the business services provider’s stock after buying an additional 10,423 shares during the quarter. Van ECK Associates Corp’s holdings in Global Payments were worth $4,644,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Global Payments in the 4th quarter valued at $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in Global Payments in the 4th quarter valued at $41,000. West Paces Advisors Inc. increased its stake in Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after buying an additional 109 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Global Payments by 26.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock valued at $48,000 after buying an additional 7,369 shares during the period. Finally, CVA Family Office LLC acquired a new position in Global Payments in the 4th quarter valued at $50,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on GPN. KeyCorp decreased their target price on shares of Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company initiated coverage on shares of Global Payments in a research report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Global Payments from $158.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Robert W. Baird decreased their price objective on shares of Global Payments from $182.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Finally, Susquehanna decreased their price objective on shares of Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.68.

Read Our Latest Report on Global Payments

Insider Buying and Selling

In related news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the completion of the sale, the vice president now owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Global Payments Trading Down 0.4 %

GPN traded down $0.37 on Friday, reaching $96.22. 1,112,415 shares of the company’s stock were exchanged, compared to its average volume of 2,327,242. The company’s 50 day moving average is $102.77 and its 200-day moving average is $120.71. The company has a market cap of $24.56 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 0.62 and a beta of 0.98. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPNGet Free Report) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.17 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. Equities analysts predict that Global Payments Inc. will post 11.09 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Global Payments Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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