Delta Investment Management LLC Buys New Stake in Global Payments Inc (NYSE:GPN)

Delta Investment Management LLC bought a new stake in Global Payments Inc (NYSE:GPN) during the 3rd quarter, HoldingsChannel reports. The fund bought 12,703 shares of the business services provider’s stock, valued at approximately $2,019,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ increased its position in Global Payments by 2.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,841 shares of the business services provider’s stock valued at $3,337,000 after acquiring an additional 435 shares during the period. First Hawaiian Bank bought a new position in Global Payments during the 3rd quarter valued at $1,642,000. Berman Capital Advisors LLC boosted its stake in Global Payments by 62.2% during the 2nd quarter. Berman Capital Advisors LLC now owns 386 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 148 shares in the last quarter. Welch & Forbes LLC bought a new position in Global Payments during the 3rd quarter valued at $281,000. Finally, Advisory Services Network LLC boosted its stake in Global Payments by 123.4% during the 2nd quarter. Advisory Services Network LLC now owns 277 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 97.09% of the company’s stock.

A number of equities analysts have issued reports on the company. Goldman Sachs Group reaffirmed a “buy” rating and set a $212.00 price target on shares of Global Payments in a research note on Tuesday, September 24th. Wells Fargo & Co raised their price target on Global Payments from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. UBS Group began coverage on shares of Global Payments in a research note on Monday, October 14th. They issued a “buy” rating and a $193.00 target price for the company. Piper Jaffray Companies set a $195.00 price target on shares of Global Payments and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank upped their target price on shares of Global Payments from $162.00 to $182.00 and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Global Payments currently has a consensus rating of “Buy” and a consensus target price of $177.97.

Shares of Global Payments stock opened at $170.26 on Friday. Global Payments Inc has a twelve month low of $94.81 and a twelve month high of $175.95. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $26.09 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 1.69 and a beta of 0.98. The business’s 50 day simple moving average is $162.19 and its 200-day simple moving average is $159.29.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, October 31st. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.16 billion. Global Payments had a return on equity of 9.05% and a net margin of 10.59%. The company’s revenue was up 27.4% compared to the same quarter last year. During the same period last year, the company posted $1.44 EPS. Sell-side analysts predict that Global Payments Inc will post 5.83 earnings per share for the current year.

In other news, EVP Guido Francesco Sacchi sold 10,450 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $159.44, for a total value of $1,666,148.00. Following the completion of the sale, the executive vice president now owns 47,916 shares of the company’s stock, valued at $7,639,727.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan M. Silberstein sold 700 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.18, for a total value of $109,326.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,287 shares of company stock valued at $6,203,454. 0.88% of the stock is currently owned by insiders.

About Global Payments

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

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