Global Payments Inc (GPN) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN grew its stake in shares of Global Payments Inc (NYSE:GPN) by 2.8% in the third quarter, Holdings Channel reports. The fund owned 51,694 shares of the business services provider’s stock after buying an additional 1,403 shares during the quarter. OLD National Bancorp IN’s holdings in Global Payments were worth $6,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GPN. LPL Financial LLC increased its stake in shares of Global Payments by 22.8% during the 1st quarter. LPL Financial LLC now owns 18,989 shares of the business services provider’s stock valued at $2,113,000 after acquiring an additional 3,530 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Global Payments by 13.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 47,847 shares of the business services provider’s stock valued at $5,337,000 after acquiring an additional 5,649 shares during the last quarter. CIBC World Markets Inc. increased its stake in shares of Global Payments by 27.5% during the 1st quarter. CIBC World Markets Inc. now owns 13,289 shares of the business services provider’s stock valued at $1,482,000 after acquiring an additional 2,868 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Global Payments by 17.4% during the 1st quarter. Allianz Asset Management GmbH now owns 424,585 shares of the business services provider’s stock valued at $47,350,000 after acquiring an additional 62,784 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Global Payments during the 1st quarter valued at about $246,000. 96.63% of the stock is owned by institutional investors.

GPN has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. BMO Capital Markets initiated coverage on shares of Global Payments in a research note on Wednesday, September 26th. They set an “outperform” rating and a $139.00 price objective for the company. Deutsche Bank upped their price objective on shares of Global Payments to $140.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Citigroup upped their price objective on shares of Global Payments from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, July 13th. Finally, Wedbush upped their price objective on shares of Global Payments from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, August 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $119.83.



In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $116.07, for a total value of $362,718.75. Following the completion of the transaction, the director now owns 80,324 shares in the company, valued at approximately $9,323,206.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cameron M. Bready sold 57,737 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $127.78, for a total value of $7,377,633.86. Following the completion of the transaction, the insider now owns 189,083 shares of the company’s stock, valued at approximately $24,161,025.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,955 shares of company stock valued at $11,773,553. 0.98% of the stock is owned by company insiders.

Shares of NYSE:GPN opened at $112.04 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.09 and a quick ratio of 1.09. Global Payments Inc has a 1 year low of $95.32 and a 1 year high of $129.25. The stock has a market cap of $18.06 billion, a PE ratio of 27.94, a PEG ratio of 1.36 and a beta of 1.19.

Global Payments (NYSE:GPN) last issued its earnings results on Thursday, August 2nd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.07. Global Payments had a return on equity of 17.99% and a net margin of 14.86%. The business had revenue of $982.50 million during the quarter, compared to analysts’ expectations of $968.75 million. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, sell-side analysts forecast that Global Payments Inc will post 4.86 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Thursday, September 13th. Global Payments’s dividend payout ratio is presently 1.00%.

About Global Payments

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.

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

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