Global Payments Inc. (GPN) Director Sells $529,648.00 in Stock
Global Payments Inc. (NYSE:GPN) Director Robert H. B. Baldwin, Jr. sold 5,600 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $94.58, for a total transaction of $529,648.00. Following the completion of the transaction, the director now directly owns 178,177 shares in the company, valued at approximately $16,851,980.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Global Payments Inc. (GPN) traded up 0.30% on Wednesday, reaching $94.60. 789,161 shares of the company’s stock traded hands. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $97.99. The firm’s 50 day moving average price is $92.88 and its 200 day moving average price is $85.57. The firm has a market capitalization of $14.43 billion, a PE ratio of 73.39 and a beta of 1.09.
Global Payments (NYSE:GPN) last announced its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The company had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. During the same period in the prior year, the business earned $0.76 earnings per share. Global Payments’s quarterly revenue was up 18.4% on a year-over-year basis. On average, analysts predict that Global Payments Inc. will post $3.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio is currently 3.07%.
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A number of institutional investors have recently made changes to their positions in the stock. Sun Life Financial INC raised its position in shares of Global Payments by 15,728.6% in the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock valued at $100,000 after buying an additional 1,101 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in shares of Global Payments by 0.8% in the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after buying an additional 10 shares in the last quarter. Intellectus Partners LLC acquired a new position in shares of Global Payments during the second quarter valued at $128,000. Commonwealth Bank of Australia raised its position in shares of Global Payments by 13.6% in the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after buying an additional 176 shares in the last quarter. Finally, Stephens Inc. AR acquired a new position in shares of Global Payments during the second quarter valued at $143,000. Institutional investors and hedge funds own 98.62% of the company’s stock.
A number of equities research analysts have recently weighed in on GPN shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $90.00 price target on shares of Global Payments in a report on Monday, May 15th. Barclays PLC lifted their price target on Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Credit Suisse Group reaffirmed an “outperform” rating and set a $97.00 price target (up previously from $91.00) on shares of Global Payments in a report on Thursday, July 13th. Instinet reaffirmed a “reduce” rating and set a $79.00 price target (up previously from $70.00) on shares of Global Payments in a report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Global Payments in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $94.58.
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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