Global Payments Inc. (GPN) Director Sells $53,946.00 in Stock
Global Payments Inc. (NYSE:GPN) Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $89.91, for a total transaction of $53,946.00. Following the completion of the transaction, the director now directly owns 48,493 shares in the company, valued at $4,360,005.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Global Payments Inc. (GPN) traded down 0.65% during midday trading on Monday, hitting $90.67. 278,786 shares of the company were exchanged. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 71.34 and a beta of 1.06. Global Payments Inc. has a one year low of $64.63 and a one year high of $93.52. The firm’s 50 day moving average price is $89.52 and its 200 day moving average price is $80.35.
Global Payments (NYSE:GPN) last announced its earnings results on Thursday, May 4th. The business services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.10. The company had revenue of $919.76 million during the quarter, compared to the consensus estimate of $767.09 million. Global Payments had a net margin of 6.22% and a return on equity of 17.38%. The firm’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Analysts forecast that Global Payments Inc. will post $3.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were issued a $0.0133 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.05 annualized dividend and a dividend yield of 0.06%. This is an increase from Global Payments’s previous quarterly dividend of $0.01. Global Payments’s dividend payout ratio is currently 3.45%.
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Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Global Payments by 3,093.1% in the first quarter. BlackRock Inc. now owns 13,529,075 shares of the business services provider’s stock worth $1,091,527,000 after buying an additional 13,105,378 shares during the period. FMR LLC increased its stake in Global Payments by 12.4% in the first quarter. FMR LLC now owns 14,898,661 shares of the business services provider’s stock worth $1,202,023,000 after buying an additional 1,647,907 shares during the period. Norges Bank bought a new stake in Global Payments during the fourth quarter worth about $92,838,000. Pictet Asset Management Ltd. increased its stake in Global Payments by 240.0% in the first quarter. Pictet Asset Management Ltd. now owns 1,106,252 shares of the business services provider’s stock worth $89,252,000 after buying an additional 780,922 shares during the period. Finally, Vanguard Group Inc. increased its stake in Global Payments by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,762,938 shares of the business services provider’s stock worth $1,191,073,000 after buying an additional 341,212 shares during the period. Institutional investors own 98.92% of the company’s stock.
A number of equities analysts have recently weighed in on GPN shares. Cantor Fitzgerald reissued an “overweight” rating and set a $93.00 price target on shares of Global Payments in a research report on Wednesday, March 15th. Piper Jaffray Companies lifted their price target on shares of Global Payments from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 21st. Barclays PLC raised shares of Global Payments from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $88.00 to $92.00 in a research report on Thursday, March 30th. Atlantic Securities started coverage on shares of Global Payments in a research report on Wednesday, April 12th. They set an “overweight” rating and a $91.00 price target on the stock. Finally, Zacks Investment Research cut shares of Global Payments from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $88.63.
About Global Payments
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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