Global Payments Inc. (NYSE:GPN) EVP Guido Francesco Sacchi sold 11,102 shares of the stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $73.80, for a total transaction of $819,327.60. Following the sale, the executive vice president now directly owns 23,904 shares in the company, valued at $1,764,115.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Global Payments Inc. (NYSE:GPN) opened at 73.04 on Monday. The firm has a market capitalization of $11.23 billion, a PE ratio of 37.59 and a beta of 1.09. Global Payments Inc. has a 1-year low of $51.29 and a 1-year high of $79.93. The firm has a 50-day moving average of $75.64 and a 200-day moving average of $74.42.
Global Payments (NYSE:GPN) last released its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The company had revenue of $939.50 million for the quarter. During the same quarter in the previous year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was up 52.2% on a year-over-year basis. On average, equities research analysts anticipate that Global Payments Inc. will post $3.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be given a $0.01 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. Global Payments’s dividend payout ratio is 2.06%.
GPN has been the topic of a number of analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $85.00 price objective (up previously from $79.00) on shares of Global Payments in a report on Thursday, October 6th. Goldman Sachs Group Inc. raised shares of Global Payments from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $88.00 in a report on Thursday, September 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Global Payments in a report on Friday, July 29th. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a report on Thursday, September 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Global Payments from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $78.03.
Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Global Payments by 0.9% in the first quarter. Geode Capital Management LLC now owns 773,444 shares of the company’s stock worth $50,475,000 after buying an additional 7,011 shares in the last quarter. Riverhead Capital Management LLC increased its stake in shares of Global Payments by 91.5% in the first quarter. Riverhead Capital Management LLC now owns 46,724 shares of the company’s stock worth $3,050,000 after buying an additional 22,324 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Global Payments by 66.4% in the first quarter. Lazard Asset Management LLC now owns 113,522 shares of the company’s stock worth $7,412,000 after buying an additional 45,281 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Global Payments during the second quarter worth $7,668,000. Finally, Capital Fund Management S.A. increased its stake in shares of Global Payments by 163.4% in the second quarter. Capital Fund Management S.A. now owns 464,283 shares of the company’s stock worth $33,141,000 after buying an additional 288,045 shares in the last quarter. Institutional investors and hedge funds own 96.57% of the company’s stock.
About Global Payments
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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