Insider Selling: Global Payments EVP Sells 8,608 Shares of Stock (GPN)
Global Payments (NYSE:GPN) EVP Suellyn Tornay unloaded 8,608 shares of the company’s stock on the open market in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $56.59, for a total transaction of $487,126.72. Following the completion of the transaction, the executive vice president now directly owns 37,853 shares of the company’s stock, valued at approximately $2,142,101. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at First Analysis downgraded shares of Global Payments from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. Separately, analysts at UBS AG raised their price target on shares of Global Payments from $49.00 to $52.00 in a research note to investors on Wednesday, October 2nd. They now have a “neutral” rating on the stock. Finally, analysts at SunTrust raised their price target on shares of Global Payments from $47.00 to $49.00 in a research note to investors on Wednesday, October 2nd. They now have a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.79.
Shares of Global Payments (NYSE:GPN) traded down 2.69% during mid-day trading on Monday, hitting $55.40. 561,003 shares of the company’s stock traded hands. Global Payments has a 1-year low of $41.01 and a 1-year high of $57.42. The stock’s 50-day moving average is $49.77 and its 200-day moving average is $47.83. The company has a market cap of $4.038 billion and a price-to-earnings ratio of 18.75.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. The company had revenue of $629.70 million for the quarter, compared to the consensus estimate of $623.79 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis.
Global Payments Inc (NYSE:GPN) is a provider of electronic payments transaction processing services for consumers, merchants, independent sales organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, the United Kingdom, Spain, the Asia-Pacific region, the Czech Republic, and the Russian Federation.
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