PNC Financial Services Group Inc. Has $4.57 Million Position in Global Payments Inc. (NYSE:GPN)

PNC Financial Services Group Inc. grew its holdings in Global Payments Inc. (NYSE:GPN) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,610 shares of the business services provider’s stock after buying an additional 846 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Global Payments were worth $4,569,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Pzena Investment Management LLC lifted its position in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after purchasing an additional 4,240,388 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Global Payments by 188.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after buying an additional 755,898 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Global Payments by 316.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock valued at $58,981,000 after buying an additional 463,568 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Global Payments by 171.6% in the 2nd quarter. Squarepoint Ops LLC now owns 561,314 shares of the business services provider’s stock valued at $54,279,000 after buying an additional 354,648 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Global Payments during the second quarter worth $31,439,000. 89.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on GPN. Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. KeyCorp dropped their price target on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Barclays reduced their price objective on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Stephens dropped their target price on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, William Blair lowered Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

Global Payments Stock Performance

Shares of Global Payments stock opened at $117.08 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $29.80 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The stock’s 50-day moving average is $105.86 and its 200-day moving average is $103.45.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.85%. Global Payments’s dividend payout ratio is currently 18.83%.

Global Payments Company Profile

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.