M&T Bank Corp boosted its stake in shares of Global Payments Inc (NYSE:GPN) by 4.1% during the second quarter, HoldingsChannel.com reports. The firm owned 43,176 shares of the business services provider’s stock after acquiring an additional 1,690 shares during the period. M&T Bank Corp’s holdings in Global Payments were worth $7,323,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fulton Bank N. A. increased its holdings in shares of Global Payments by 8.4% during the 2nd quarter. Fulton Bank N. A. now owns 8,733 shares of the business services provider’s stock worth $1,482,000 after buying an additional 676 shares during the last quarter. Guggenheim Capital LLC grew its position in Global Payments by 19.3% during the first quarter. Guggenheim Capital LLC now owns 40,160 shares of the business services provider’s stock valued at $5,792,000 after acquiring an additional 6,500 shares during the period. AXA grew its position in Global Payments by 53.2% during the first quarter. AXA now owns 537,853 shares of the business services provider’s stock valued at $77,574,000 after acquiring an additional 186,687 shares during the period. UNIVEST FINANCIAL Corp increased its stake in Global Payments by 7.0% during the second quarter. UNIVEST FINANCIAL Corp now owns 31,932 shares of the business services provider’s stock worth $5,417,000 after acquiring an additional 2,083 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in shares of Global Payments by 14.9% in the 2nd quarter. Empirical Finance LLC now owns 1,957 shares of the business services provider’s stock worth $332,000 after purchasing an additional 254 shares during the period. Institutional investors own 87.89% of the company’s stock.
A number of analysts have recently issued reports on GPN shares. Cfra reiterated a “buy” rating and set a $165.00 target price on shares of Global Payments in a report on Tuesday, April 21st. TheStreet upgraded shares of Global Payments from a “c+” rating to a “b” rating in a research note on Wednesday, May 6th. Morgan Stanley raised their target price on shares of Global Payments from $147.00 to $161.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. SunTrust Banks lifted their target price on shares of Global Payments from $165.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Susquehanna Bancshares lowered their price target on Global Payments from $235.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have issued a buy rating to the company. Global Payments presently has an average rating of “Buy” and an average target price of $194.31.
NYSE GPN opened at $178.02 on Friday. The company has a market capitalization of $53.25 billion, a price-to-earnings ratio of 83.58, a price-to-earnings-growth ratio of 2.07 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. Global Payments Inc has a 12 month low of $105.54 and a 12 month high of $209.62. The company’s fifty day moving average price is $171.93 and its two-hundred day moving average price is $173.70.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Global Payments had a net margin of 7.79% and a return on equity of 6.46%. The company’s quarterly revenue was up 115.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 earnings per share. As a group, analysts anticipate that Global Payments Inc will post 5.61 EPS for the current year.
Global Payments Company Profile
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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