Insider Selling: Global Payments Inc. (GPN) Director Sells 8,200 Shares of Stock
Global Payments Inc. (NYSE:GPN) Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $97.61, for a total value of $800,402.00. Following the sale, the director now directly owns 172,497 shares in the company, valued at approximately $16,837,432.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Global Payments Inc. (NYSE:GPN) traded down 0.39% during midday trading on Thursday, hitting $96.99. 904,335 shares of the stock traded hands. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 75.24 and a beta of 1.11. The firm has a 50-day moving average price of $95.16 and a 200 day moving average price of $88.00. Global Payments Inc. has a one year low of $64.63 and a one year high of $98.14.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The business had revenue of $847.90 million during the quarter, compared to the consensus estimate of $837.76 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. Analysts anticipate that Global Payments Inc. will post $3.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, September 14th. Global Payments’s dividend payout ratio is presently 3.07%.
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A number of analysts have recently weighed in on GPN shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $100.00 price objective on shares of Global Payments in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $90.00 target price on shares of Global Payments in a report on Friday, July 7th. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a report on Thursday, July 6th. Mizuho initiated coverage on Global Payments in a report on Tuesday, June 27th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on Global Payments in a report on Thursday, June 1st. They issued a “buy” rating and a $102.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $97.34.
Large investors have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd bought a new stake in shares of Global Payments during the 1st quarter valued at about $200,000. Aviva PLC boosted its stake in Global Payments by 0.6% during the 2nd quarter. Aviva PLC now owns 93,792 shares of the business services provider’s stock valued at $8,472,000 after purchasing an additional 560 shares during the period. JPMorgan Chase & Co. boosted its stake in Global Payments by 162.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock valued at $296,636,000 after purchasing an additional 2,030,880 shares during the period. Contravisory Investment Management Inc. acquired a new position in Global Payments during the 2nd quarter valued at about $246,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Global Payments by 0.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 424,631 shares of the business services provider’s stock valued at $38,353,000 after purchasing an additional 3,167 shares during the period. 97.87% of the stock is owned by institutional investors and hedge funds.
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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