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 stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $94.58, for a total transaction of $529,648.00. Following the sale, the director now directly owns 178,177 shares of the company’s stock, valued at approximately $16,851,980.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Global Payments Inc. (GPN) traded up 0.30% during mid-day trading on Wednesday, reaching $94.60. 789,161 shares of the company’s stock were exchanged. The company has a market cap of $14.43 billion, a PE ratio of 73.39 and a beta of 1.09. The company’s 50-day moving average price is $92.88 and its 200 day moving average price is $85.57. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $97.99.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The firm had revenue of $847.90 million for the quarter, compared to the consensus estimate of $837.76 million. During the same period in the prior year, the firm posted $0.76 earnings per share. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities research analysts predict that Global Payments Inc. will post $3.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s payout ratio is 3.07%.
Several brokerages have recently issued reports on GPN. Stifel Nicolaus reissued a “buy” rating and set a $103.00 price objective (up previously from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $100.00 price objective on shares of Global Payments in a research report on Thursday, August 3rd. Barclays PLC increased their price objective on shares of Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Wells Fargo & Company raised shares of Global Payments from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $90.00 to $110.00 in a research report on Friday, August 4th. Finally, Royal Bank Of Canada lowered their price objective on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $94.58.
Several large investors have recently made changes to their positions in the company. Sterling Capital Management LLC increased its stake in shares of Global Payments by 3.1% in the second quarter. Sterling Capital Management LLC now owns 120,209 shares of the business services provider’s stock worth $10,857,000 after buying an additional 3,621 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Global Payments by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 17,368 shares of the business services provider’s stock worth $1,567,000 after buying an additional 65 shares during the last quarter. Castleark Management LLC purchased a new stake in shares of Global Payments during the second quarter worth about $253,000. Intellectus Partners LLC purchased a new stake in shares of Global Payments during the second quarter worth about $128,000. Finally, Nomura Holdings Inc. increased its stake in shares of Global Payments by 202.0% in the second quarter. Nomura Holdings Inc. now owns 12,837 shares of the business services provider’s stock worth $1,160,000 after buying an additional 8,587 shares during the last quarter. 98.62% of the stock is currently owned by hedge funds and other institutional investors.
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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