Global Payments Inc (GPN) Director Sells $280,000.00 in Stock
Global Payments Inc (NYSE:GPN) Director Robert H. B. Baldwin, Jr. sold 3,500 shares of the stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $80.00, for a total value of $280,000.00. Following the transaction, the director now owns 265,752 shares of the company’s stock, valued at $21,260,160. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Global Payments Inc (NYSE:GPN) traded down 0.16% during midday trading on Friday, reaching $80.86. The company’s stock had a trading volume of 1,603,569 shares. The company has a 50 day moving average of $79.05 and a 200-day moving average of $75.41. The company has a market capitalization of $12.31 billion, a P/E ratio of 58.21 and a beta of 1.05. Global Payments Inc has a 1-year low of $64.63 and a 1-year high of $81.71.
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Hedge funds have recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. boosted its stake in shares of Global Payments by 36.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 9,645 shares of the business services provider’s stock valued at $778,000 after buying an additional 2,597 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Global Payments during the first quarter valued at about $409,000. DnB Asset Management AS boosted its stake in shares of Global Payments by 24.4% in the first quarter. DnB Asset Management AS now owns 16,800 shares of the business services provider’s stock valued at $1,355,000 after buying an additional 3,300 shares during the last quarter. Atria Investments LLC purchased a new stake in shares of Global Payments during the first quarter valued at about $231,000. Finally, Parametrica Management Ltd purchased a new stake in shares of Global Payments during the first quarter valued at about $697,000. Hedge funds and other institutional investors own 97.82% of the company’s stock.
A number of research firms have recently weighed in on GPN. Atlantic Securities began coverage on Global Payments in a report on Wednesday, April 12th. They set an “overweight” rating and a $91.00 price target for the company. Zacks Investment Research upgraded Global Payments from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Wednesday, January 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price target (up from $87.00) on shares of Global Payments in a report on Tuesday, January 10th. Evercore ISI reiterated a “buy” rating and set a $96.00 price target on shares of Global Payments in a report on Tuesday, January 10th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $88.00 price target (up from $85.00) on shares of Global Payments in a report on Wednesday, January 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $85.85.
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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