Global Payments Inc. (NYSE:GPN) Director Sells $54,312.00 in Stock
Global Payments Inc. (NYSE:GPN) Director William I. Jacobs sold 600 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $90.52, for a total transaction of $54,312.00. Following the transaction, the director now directly owns 41,275 shares in the company, valued at $3,736,213. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Global Payments Inc. (NYSE:GPN) traded up 0.90% during midday trading on Monday, hitting $94.62. 255,197 shares of the company traded hands. The company has a market capitalization of $14.43 billion, a price-to-earnings ratio of 74.45 and a beta of 1.09. Global Payments Inc. has a 12-month low of $64.63 and a 12-month high of $94.81. The stock’s 50-day moving average price is $90.63 and its 200 day moving average price is $83.23.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.10. Global Payments had a net margin of 6.22% and a return on equity of 17.38%. The business had revenue of $919.76 million for the quarter, compared to analyst estimates of $767.09 million. During the same quarter in the prior year, the business earned $0.64 EPS. Global Payments’s quarterly revenue was up 46.9% on a year-over-year basis. On average, equities analysts forecast that Global Payments Inc. will post $3.91 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in GPN. Financial Architects Inc raised its position in shares of Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock worth $149,000 after buying an additional 233 shares during the period. Morgan Dempsey Capital Management LLC raised its position in shares of Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock worth $162,000 after buying an additional 930 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock worth $164,000 after buying an additional 933 shares during the period. Point72 Asia Hong Kong Ltd bought a new position in shares of Global Payments during the first quarter worth approximately $200,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Global Payments during the first quarter worth approximately $203,000. Institutional investors and hedge funds own 98.59% of the company’s stock.
Several research firms have commented on GPN. Stifel Nicolaus began coverage on shares of Global Payments in a research report on Thursday, June 1st. They set a “buy” rating and a $102.00 target price on the stock. BMO Capital Markets increased their target price on shares of Global Payments from $91.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Credit Suisse Group increased their target price on shares of Global Payments from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Barclays PLC reissued a “buy” rating and set a $96.00 target price on shares of Global Payments in a research report on Friday, May 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $90.00 price target on shares of Global Payments in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $90.28.
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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