Insider Selling: Global Payments Inc (GPN) Director Sells 600 Shares of Stock
Global Payments Inc (NYSE:GPN) Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $103.62, for a total transaction of $62,172.00. Following the transaction, the director now directly owns 37,675 shares in the company, valued at $3,903,883.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Global Payments Inc (NYSE:GPN) traded up $0.38 during mid-day trading on Thursday, reaching $106.18. 642,029 shares of the company’s stock traded hands, compared to its average volume of 1,012,533. The company has a market capitalization of $16,910.00, a price-to-earnings ratio of 60.33, a price-to-earnings-growth ratio of 1.62 and a beta of 1.11. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments Inc has a twelve month low of $75.88 and a twelve month high of $106.78.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.12. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $917.31 million. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. analysts expect that Global Payments Inc will post 3.81 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Global Payments by 3.0% in the second quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after purchasing an additional 448,864 shares during the period. JPMorgan Chase & Co. raised its position in shares of Global Payments by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 3,396,554 shares of the business services provider’s stock valued at $319,071,000 after purchasing an additional 112,256 shares during the period. Capital International Investors raised its position in shares of Global Payments by 39.1% in the third quarter. Capital International Investors now owns 2,678,334 shares of the business services provider’s stock valued at $254,522,000 after purchasing an additional 752,962 shares during the period. Janus Henderson Group PLC raised its position in shares of Global Payments by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,302,837 shares of the business services provider’s stock valued at $218,838,000 after purchasing an additional 10,039 shares during the period. Finally, Frontier Capital Management Co. LLC raised its position in shares of Global Payments by 0.9% in the third quarter. Frontier Capital Management Co. LLC now owns 1,836,396 shares of the business services provider’s stock valued at $174,513,000 after purchasing an additional 16,898 shares during the period. 98.82% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on GPN shares. Nomura reissued a “sell” rating and set a $83.00 price target on shares of Global Payments in a research report on Monday, October 16th. Morgan Stanley raised their price target on shares of Global Payments from $98.00 to $106.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $108.00 price target (up from $103.00) on shares of Global Payments in a research report on Thursday, November 9th. Zacks Investment Research lowered shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, BMO Capital Markets raised their price target on shares of Global Payments from $103.00 to $115.00 and gave the company a “positive” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $107.79.
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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