Global Payments Inc (NYSE:GPN) Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $114.34, for a total transaction of $68,604.00. Following the transaction, the director now directly owns 43,693 shares in the company, valued at $4,995,857.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Global Payments Inc (NYSE:GPN) traded down $2.49 on Wednesday, hitting $112.24. 870,492 shares of the stock were exchanged, compared to its average volume of 1,147,099. Global Payments Inc has a one year low of $76.47 and a one year high of $115.24. The company has a current ratio of 1.13, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15. The firm has a market cap of $18,110.00, a P/E ratio of 56.40, a P/E/G ratio of 1.70 and a beta of 1.14.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. Global Payments had a net margin of 11.78% and a return on equity of 17.94%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $943.39 million. During the same period last year, the company posted $0.89 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. equities analysts predict that Global Payments Inc will post 4.53 earnings per share for the current fiscal year.
Global Payments announced that its board has authorized a share repurchase plan on Thursday, February 15th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s payout ratio is currently 2.01%.
Several institutional investors and hedge funds have recently bought and sold shares of GPN. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Global Payments by 58.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,322 shares of the business services provider’s stock valued at $661,000 after purchasing an additional 2,694 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Global Payments by 9.4% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,283 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 283 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of Global Payments by 63.3% in the 3rd quarter. Shell Asset Management Co. now owns 16,738 shares of the business services provider’s stock valued at $1,170,000 after purchasing an additional 6,487 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Global Payments by 129.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 76,206 shares of the business services provider’s stock valued at $7,242,000 after purchasing an additional 43,063 shares in the last quarter. Finally, Oakbrook Investments LLC acquired a new stake in shares of Global Payments in the 3rd quarter valued at approximately $684,000. Institutional investors own 95.74% of the company’s stock.
A number of equities analysts recently commented on GPN shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $122.00 price target on shares of Global Payments in a research report on Friday, December 22nd. Zacks Investment Research lowered shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Stephens raised shares of Global Payments from an “equal weight” rating to an “overweight” rating and set a $122.00 price target on the stock in a research report on Tuesday, January 9th. Credit Suisse Group reaffirmed an “outperform” rating and set a $108.00 price target (up from $100.00) on shares of Global Payments in a research report on Thursday, November 9th. They noted that the move was a valuation call. Finally, Nomura raised their price target on shares of Global Payments from $83.00 to $85.00 and gave the stock a “reduce” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $107.69.
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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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