Global Payments Inc. (GPN) Director Sells $58,620.00 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, September 18th. The shares were sold at an average price of $97.70, for a total value of $58,620.00. Following the transaction, the director now owns 46,693 shares of the company’s stock, valued at approximately $4,561,906.10. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Global Payments Inc. (GPN) traded down 0.54% during midday trading on Friday, reaching $95.82. The company’s stock had a trading volume of 810,317 shares. The company has a market capitalization of $14.61 billion, a P/E ratio of 74.34 and a beta of 1.11. Global Payments Inc. has a one year low of $64.63 and a one year high of $98.14. The stock’s 50-day moving average is $95.36 and its 200-day moving average is $88.50.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The business had revenue of $847.90 million during the quarter, compared to analyst estimates of $837.76 million. During the same period last year, the business posted $0.76 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. On average, equities analysts expect that Global Payments Inc. will post $3.95 earnings per share for the current fiscal 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 given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s dividend payout ratio is currently 2.45%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GPN. Russell Investments Group Ltd. boosted its position in shares of Global Payments by 24.4% during the first quarter. Russell Investments Group Ltd. now owns 97,983 shares of the business services provider’s stock worth $7,907,000 after buying an additional 19,222 shares during the period. Comerica Bank boosted its position in shares of Global Payments by 11.6% during the first quarter. Comerica Bank now owns 38,953 shares of the business services provider’s stock worth $3,193,000 after buying an additional 4,057 shares during the period. Karp Capital Management Corp purchased a new position in shares of Global Payments during the first quarter worth $2,096,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Global Payments by 28.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,295 shares of the business services provider’s stock worth $911,000 after buying an additional 2,484 shares during the period. Finally, Norinchukin Bank The boosted its position in shares of Global Payments by 6.1% during the first quarter. Norinchukin Bank The now owns 9,894 shares of the business services provider’s stock worth $798,000 after buying an additional 569 shares during the period. Institutional investors and hedge funds own 97.84% of the company’s stock.
Several research firms have weighed in on GPN. Stifel Nicolaus restated a “buy” rating and set a $103.00 price target (up previously from $102.00) on shares of Global Payments in a report on Friday, August 4th. Bank of America Corporation began coverage on Global Payments in a report on Tuesday, September 12th. They set a “buy” rating and a $110.00 price target for the company. J P Morgan Chase & Co raised their price target on Global Payments from $106.00 to $107.00 and gave the company an “overweight” rating in a report on Tuesday, September 12th. Cowen and Company restated a “buy” rating and set a $102.00 price target on shares of Global Payments in a report on Friday, September 8th. Finally, KeyCorp began coverage on Global Payments in a report on Friday. They set an “overweight” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $98.26.
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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