Global Payments Inc. (GPN) Director Sells $58,614.00 in Stock
Global Payments Inc. (NYSE:GPN) Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $97.69, for a total value of $58,614.00. Following the transaction, the director now owns 46,093 shares in the company, valued at $4,502,825.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Global Payments Inc. (GPN) traded up 0.37% during mid-day trading on Friday, hitting $97.17. The stock had a trading volume of 928,116 shares. The firm has a 50-day moving average of $96.55 and a 200-day moving average of $91.08. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $100.34. The stock has a market cap of $14.82 billion, a P/E ratio of 75.38 and a beta of 1.11.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.07. The company had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. On average, analysts forecast that Global Payments Inc. will post $3.90 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend was Thursday, September 14th. Global Payments’s payout ratio is 2.45%.
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Several research firms have commented on GPN. Mizuho restated a “buy” rating and set a $105.00 price objective on shares of Global Payments in a report on Sunday, October 15th. Nomura restated a “sell” rating and set a $83.00 price objective on shares of Global Payments in a report on Monday. Barclays PLC raised their price objective on Global Payments from $105.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded Global Payments from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Wednesday, October 11th. Finally, Deutsche Bank AG restated a “buy” rating and set a $115.00 price objective (up from $100.00) on shares of Global Payments in a report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $100.32.
Several hedge funds have recently modified their holdings of GPN. Sun Life Financial INC grew its holdings in shares of Global Payments by 15,728.6% during the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after purchasing an additional 1,101 shares during the last quarter. Thompson Davis & CO. Inc. grew its holdings in shares of Global Payments by 0.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after purchasing an additional 10 shares during the last quarter. Intellectus Partners LLC purchased a new position in shares of Global Payments during the second quarter worth about $128,000. Commonwealth Bank of Australia grew its holdings in shares of Global Payments by 13.6% during the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after purchasing an additional 176 shares during the last quarter. Finally, Stephens Inc. AR purchased a new position in shares of Global Payments during the second quarter worth about $143,000. 97.80% 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 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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