Global Payments Sees Unusually High Options Volume (GPN)

Global Payments (NYSE:GPN) saw some unusual options trading activity on Thursday. Stock traders purchased 2,569 call options on the company. This represents an increase of 2,023% compared to the typical daily volume of 121 call options.

In other news, Director Alan M. Silberstein sold 5,900 shares of the company’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $118.15, for a total value of $697,085.00. Following the completion of the sale, the director now directly owns 46,497 shares of the company’s stock, valued at approximately $5,493,620.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $118.27, for a total value of $70,962.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,200 shares of company stock worth $1,659,695. Corporate insiders own 0.98% of the company’s stock.

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Several institutional investors and hedge funds have recently modified their holdings of GPN. Neuberger Berman Group LLC grew its stake in shares of Global Payments by 0.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 325,220 shares of the business services provider’s stock worth $30,906,000 after acquiring an additional 2,620 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Global Payments during the 3rd quarter worth approximately $236,000. Atria Investments LLC grew its stake in shares of Global Payments by 32.4% during the 4th quarter. Atria Investments LLC now owns 4,609 shares of the business services provider’s stock worth $462,000 after acquiring an additional 1,128 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Global Payments by 42.8% during the 4th quarter. Bank of Montreal Can now owns 156,231 shares of the business services provider’s stock worth $15,661,000 after acquiring an additional 46,850 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Global Payments by 9.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 554,013 shares of the business services provider’s stock worth $55,535,000 after acquiring an additional 47,000 shares in the last quarter. 96.75% of the stock is owned by institutional investors.

A number of analysts have recently commented on the company. Deutsche Bank upped their price target on Global Payments and gave the company a “buy” rating in a research note on Friday, February 16th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $122.00 price target on shares of Global Payments in a research note on Friday, December 22nd. KeyCorp reaffirmed an “overweight” rating and issued a $125.00 price target (up from $120.00) on shares of Global Payments in a research note on Friday, March 2nd. Stephens reaffirmed a “buy” rating and issued a $125.00 price target on shares of Global Payments in a research note on Tuesday, February 27th. Finally, Piper Jaffray raised Global Payments from a “neutral” rating to an “overweight” rating in a research note on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $110.08.

NYSE GPN opened at $111.28 on Friday. Global Payments has a 52-week low of $80.01 and a 52-week high of $118.94. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $17,920.22, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 1.47 and a beta of 1.11.

Global Payments (NYSE:GPN) last posted its earnings results on Thursday, February 15th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $943.39 million. Global Payments had a return on equity of 17.94% and a net margin of 11.78%. Global Payments’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. sell-side analysts expect that Global Payments will post 4.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s dividend payout ratio is currently 1.00%.

Global Payments declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 15th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

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Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.

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