PGGM Investments Takes Position in Global Payments Inc. (NYSE:GPN)

PGGM Investments purchased a new position in shares of Global Payments Inc. (NYSE:GPN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,660 shares of the business services provider’s stock, valued at approximately $489,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Global Payments during the fourth quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new stake in Global Payments during the 1st quarter worth approximately $31,000. LRI Investments LLC acquired a new position in shares of Global Payments in the 1st quarter valued at approximately $32,000. West Paces Advisors Inc. boosted its stake in shares of Global Payments by 54.5% during 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 last quarter. Finally, North Star Investment Management Corp. grew its position in shares of Global Payments by 154.7% during the first 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 in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insiders Place Their Bets

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of Global Payments 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 transaction, the vice president now directly owns 25,209 shares in the company, valued at approximately $2,806,770.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by company insiders.

Global Payments Price Performance

Shares of NYSE:GPN opened at $95.62 on Friday. The stock has a market cap of $24.41 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 0.63 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock’s 50 day moving average price is $97.80 and its 200 day moving average price is $116.38.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. The company 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 research analysts anticipate that Global Payments Inc. will post 11.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GPN shares. Citigroup cut their price target on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Wells Fargo & Company assumed coverage on Global Payments in a report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $172.00 target price on shares of Global Payments in a report on Wednesday, July 10th. Robert W. Baird lowered their price target on Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods dropped their price target on Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.35.

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.