Global Payments Inc. (GPN) EVP Sells $819,327.60 in Stock
Global Payments Inc. (NYSE:GPN) EVP Guido Francesco Sacchi sold 11,102 shares of the business’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $73.80, for a total value of $819,327.60. Following the transaction, the executive vice president now owns 23,904 shares in the company, valued at approximately $1,764,115.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Global Payments Inc. (NYSE:GPN) opened at 73.35 on Friday. Global Payments Inc. has a 52-week low of $51.29 and a 52-week high of $79.93. The firm has a 50-day moving average price of $75.74 and a 200-day moving average price of $74.32. The firm has a market capitalization of $11.27 billion, a P/E ratio of 37.75 and a beta of 1.09.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm earned $939.50 million during the quarter. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The firm’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 EPS. On average, equities research analysts anticipate that Global Payments Inc. will post $3.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date is Tuesday, November 8th. Global Payments’s dividend payout ratio is 2.06%.
A number of brokerages have commented on GPN. Robert W. Baird restated an “outperform” rating and set a $88.00 price objective on shares of Global Payments in a research note on Thursday. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $85.00 price objective on shares of Global Payments in a research note on Friday, October 7th. Stifel Nicolaus boosted their price objective on Global Payments from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, October 7th. Deutsche Bank AG restated a “buy” rating and set a $85.00 price objective (up previously from $79.00) on shares of Global Payments in a research note on Thursday, October 6th. Finally, Zacks Investment Research upgraded Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $78.03.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC boosted its position in shares of Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock worth $114,000 after buying an additional 700 shares in the last quarter. Financial Architects Inc boosted its position in shares of Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock worth $115,000 after buying an additional 1,501 shares in the last quarter. PineBridge Investments L.P. acquired a new position in shares of Global Payments during the second quarter worth approximately $139,000. IFP Advisors Inc boosted its position in shares of Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock worth $162,000 after buying an additional 636 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. acquired a new position in shares of Global Payments during the second quarter worth approximately $168,000. Hedge funds and other institutional investors own 96.56% of the company’s stock.
About Global Payments
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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