DekaBank Deutsche Girozentrale Sells 8,485 Shares of Global Payments Inc. (NYSE:GPN)

DekaBank Deutsche Girozentrale trimmed its position in shares of Global Payments Inc. (NYSE:GPN) by 11.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 67,931 shares of the business services provider’s stock after selling 8,485 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Global Payments were worth $8,938,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GPN. New Covenant Trust Company N.A. bought a new stake in shares of Global Payments during the first quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Global Payments during the fourth quarter valued at $30,000. LRI Investments LLC bought a new stake in Global Payments in the 1st quarter worth about $32,000. West Paces Advisors Inc. increased its holdings 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 worth $41,000 after buying an additional 109 shares in the last quarter. Finally, North Star Investment Management Corp. raised its position in Global Payments by 154.7% in the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after buying an additional 215 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GPN has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on Global Payments in a report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Morgan Stanley upped their price objective on Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Evercore ISI lowered their target price on Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $172.00 price target on shares of Global Payments in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.35.

Global Payments Trading Down 2.5 %

GPN stock traded down $2.50 during midday trading on Friday, reaching $95.62. 1,957,736 shares of the company traded hands, compared to its average volume of 1,966,164. The firm has a market capitalization of $24.41 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 0.63 and a beta of 0.98. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The business has a 50 day moving average of $97.80 and a 200-day moving average of $116.38. 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:GPN) last issued its quarterly 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. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.17 billion. As a group, sell-side analysts expect that Global Payments Inc. will post 11.09 earnings per share for the current fiscal year.

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.