Global Payments Inc (NYSE:GPN) Director Alan M. Silberstein Sells 700 Shares

Global Payments Inc (NYSE:GPN) Director Alan M. Silberstein sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $156.18, for a total transaction of $109,326.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Global Payments stock traded up $1.42 on Friday, hitting $157.75. 1,510,400 shares of the company traded hands, compared to its average volume of 1,737,023. The stock has a market capitalization of $24.12 billion, a P/E ratio of 30.39, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.01 and a current ratio of 1.01. Global Payments Inc has a 52 week low of $94.81 and a 52 week high of $172.20. The business has a 50-day simple moving average of $162.66 and a 200 day simple moving average of $145.65.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.05. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 earnings per share. Research analysts expect that Global Payments Inc will post 5.82 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. Global Payments’s payout ratio is currently 0.77%.

Several institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Global Payments by 7.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 20,699,119 shares of the business services provider’s stock valued at $3,314,531,000 after purchasing an additional 1,392,325 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Global Payments by 0.9% in the second quarter. Vanguard Group Inc. now owns 17,087,422 shares of the business services provider’s stock valued at $2,736,209,000 after purchasing an additional 150,503 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Global Payments by 4.3% in the second quarter. BlackRock Inc. now owns 11,019,167 shares of the business services provider’s stock valued at $1,764,501,000 after purchasing an additional 452,606 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Global Payments by 3.9% in the second quarter. Janus Henderson Group PLC now owns 4,609,039 shares of the business services provider’s stock valued at $738,044,000 after purchasing an additional 171,217 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Global Payments by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 1,969,663 shares of the business services provider’s stock valued at $202,756,000 after purchasing an additional 128,466 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

A number of research firms have commented on GPN. Robert W. Baird raised their target price on shares of Global Payments from $174.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Barclays raised their target price on shares of Global Payments from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America raised their target price on shares of Global Payments from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Deutsche Bank raised their target price on shares of Global Payments from $162.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Oppenheimer raised their target price on shares of Global Payments from $161.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $164.74.

Global Payments Company Profile

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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