Global Payments Inc. (NYSE:GPN – Get Free Report) CAO David M. Sheffield sold 2,016 shares of Global Payments stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $119.47, for a total transaction of $240,851.52. Following the sale, the chief accounting officer now owns 25,045 shares of the company’s stock, valued at $2,992,126.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Global Payments Trading Up 0.8 %
Shares of GPN traded up $1.00 during trading hours on Friday, reaching $122.65. 1,707,929 shares of the company traded hands, compared to its average volume of 2,095,357. Global Payments Inc. has a 12 month low of $92.27 and a 12 month high of $136.88. The company has a market capitalization of $31.89 billion, a price-to-earnings ratio of 40.55, a price-to-earnings-growth ratio of 0.80 and a beta of 1.00. The company’s fifty day moving average price is $104.87 and its two-hundred day moving average price is $106.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.74.
Global Payments (NYSE:GPN – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.19. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.19 billion. Global Payments had a return on equity of 10.95% and a net margin of 8.65%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. Equities research analysts predict that Global Payments Inc. will post 9.61 earnings per share for the current fiscal year.
Global Payments Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Thursday, September 14th. Global Payments’s dividend payout ratio is 33.33%.
Hedge Funds Weigh In On Global Payments
Several large investors have recently made changes to their positions in the business. Glassman Wealth Services lifted its stake in shares of Global Payments by 94.3% in the first quarter. Glassman Wealth Services now owns 239 shares of the business services provider’s stock worth $25,000 after buying an additional 116 shares in the last quarter. James Investment Research Inc. bought a new position in shares of Global Payments during the fourth quarter valued at $26,000. Clear Street Markets LLC bought a new stake in Global Payments in the 4th quarter worth about $27,000. Venturi Wealth Management LLC purchased a new position in Global Payments in the 1st quarter worth about $29,000. Finally, MV Capital Management Inc. boosted its holdings in shares of Global Payments by 166.7% during the 1st quarter. MV Capital Management Inc. now owns 296 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. 85.68% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Stephens lifted their price objective on shares of Global Payments from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird raised Global Payments from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $130.00 to $156.00 in a research note on Wednesday, April 19th. Raymond James reduced their price objective on Global Payments from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday. Credit Suisse Group boosted their target price on Global Payments from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Mizuho increased their price target on shares of Global Payments from $100.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Global Payments has an average rating of “Moderate Buy” and an average price target of $145.52.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Consumer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.