Insider Selling: Global Payments Inc. (GPN) Director Sells 600 Shares of Stock
Global Payments Inc. (NYSE:GPN) Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $90.94, for a total value of $54,564.00. Following the transaction, the director now owns 47,893 shares in the company, valued at approximately $4,355,389.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Global Payments Inc. (NYSE:GPN) traded up 0.87% during trading on Thursday, reaching $93.61. The company had a trading volume of 1,166,038 shares. Global Payments Inc. has a 12-month low of $64.63 and a 12-month high of $93.87. The stock has a market capitalization of $14.27 billion, a P/E ratio of 73.65 and a beta of 1.09. The stock has a 50 day moving average of $90.57 and a 200-day moving average of $83.15.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.10. The business had revenue of $919.76 million for the quarter, compared to analyst estimates of $767.09 million. Global Payments had a net margin of 6.22% and a return on equity of 17.38%. The business’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. On average, analysts forecast that Global Payments Inc. will post $3.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were issued a dividend of $0.0133 per share. The ex-dividend date was Wednesday, June 7th. This is a positive change from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.06%. Global Payments’s payout ratio is 3.45%.
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A number of research analysts recently issued reports on GPN shares. Barclays PLC upgraded Global Payments from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $88.00 to $92.00 in a report on Thursday, March 30th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a report on Friday, May 5th. Zacks Investment Research downgraded Global Payments from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Credit Suisse Group upped their target price on Global Payments from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Global Payments in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $90.28.
Several large investors have recently made changes to their positions in the stock. Financial Architects Inc increased its position in Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock worth $149,000 after buying an additional 233 shares during the period. Morgan Dempsey Capital Management LLC increased its stake in Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock valued at $162,000 after buying an additional 930 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after buying an additional 933 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in Global Payments during the first quarter valued at $200,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Global Payments during the first quarter valued at $203,000. 98.73% of the stock is currently owned by hedge funds and other 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 through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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