Global Payments Inc (GPN) Director Sells $566,270.68 in Stock
Global Payments Inc (NYSE:GPN) Director Alan M. Silberstein sold 4,276 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $132.43, for a total value of $566,270.68. Following the completion of the sale, the director now owns 51,049 shares of the company’s stock, valued at $6,760,419.07. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of GPN stock opened at $134.12 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.20. Global Payments Inc has a 1 year low of $94.81 and a 1 year high of $134.51. The firm has a market cap of $21.14 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.30 and a beta of 1.20.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, February 13th. The business services provider reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. Global Payments had a return on equity of 19.11% and a net margin of 13.43%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts expect that Global Payments Inc will post 5.72 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Lunia Capital LP acquired a new position in Global Payments during the 4th quarter worth $18,742,000. BlackRock Inc. boosted its position in Global Payments by 1.3% during the 3rd quarter. BlackRock Inc. now owns 10,862,520 shares of the business services provider’s stock worth $1,383,883,000 after acquiring an additional 143,470 shares during the period. FMR LLC boosted its position in Global Payments by 3.6% during the 3rd quarter. FMR LLC now owns 10,063,461 shares of the business services provider’s stock worth $1,282,085,000 after acquiring an additional 350,835 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Global Payments by 9.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,447,043 shares of the business services provider’s stock worth $561,752,000 after acquiring an additional 449,751 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Global Payments by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock worth $575,914,000 after acquiring an additional 581,025 shares during the period. Institutional investors own 97.84% of the company’s stock.
A number of brokerages have recently weighed in on GPN. Wedbush boosted their price target on Global Payments from $135.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group began coverage on Global Payments in a research report on Thursday, February 28th. They set a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research upgraded Global Payments from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. Barclays boosted their price objective on Global Payments from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, February 19th. Finally, ValuEngine upgraded Global Payments from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. Global Payments has a consensus rating of “Buy” and a consensus target price of $134.74.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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