Insider Selling: Global Payments Inc. (GPN) Director Sells 6,500 Shares of Stock
Global Payments Inc. (NYSE:GPN) Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $74.73, for a total transaction of $485,745.00. Following the completion of the transaction, the director now directly owns 349,063 shares of the company’s stock, valued at $26,085,477.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Global Payments Inc. (NYSE:GPN) traded up 2.55% during mid-day trading on Wednesday, reaching $76.33. 1,053,473 shares of the company’s stock were exchanged. The stock has a market capitalization of $11.73 billion, a PE ratio of 37.42 and a beta of 1.16. The company’s 50 day moving average is $75.06 and its 200 day moving average is $72.64. Global Payments Inc. has a 1-year low of $51.29 and a 1-year high of $79.93.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $747.10 million for the quarter, compared to the consensus estimate of $568.81 million. Global Payments had a net margin of 9.37% and a return on equity of 27.99%. Global Payments’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 EPS. Equities research analysts anticipate that Global Payments Inc. will post $3.47 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date of this dividend was Wednesday, August 10th. Global Payments’s dividend payout ratio is presently 1.95%.
A number of brokerages have weighed in on GPN. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Wednesday, June 29th. JPMorgan Chase & Co. restated a “buy” rating and issued a $83.00 price objective on shares of Global Payments in a report on Friday, July 29th. Robert W. Baird restated an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a report on Tuesday, September 6th. Jefferies Group restated a “hold” rating and issued a $75.00 price objective (up previously from $68.00) on shares of Global Payments in a report on Tuesday, May 24th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $79.00 price objective (up previously from $72.00) on shares of Global Payments in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $76.87.
A number of hedge funds have recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Global Payments during the second quarter valued at $444,000. Kentucky Retirement Systems bought a new stake in Global Payments during the second quarter valued at $935,000. Mason Street Advisors LLC bought a new stake in Global Payments during the second quarter valued at $1,481,000. IFP Advisors Inc increased its stake in Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock valued at $162,000 after buying an additional 636 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Global Payments by 42.1% in the second quarter. Public Employees Retirement System of Ohio now owns 272,404 shares of the company’s stock valued at $19,444,000 after buying an additional 80,639 shares in the last quarter. 96.56% of the stock is currently owned by institutional investors.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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