Insider Selling: Global Payments Inc (GPN) Director Sells 6,000 Shares of Stock

Global Payments Inc (NYSE:GPN) Director Robert H. B. Baldwin, Jr. sold 6,000 shares of Global Payments stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $118.18, for a total value of $709,080.00. Following the transaction, the director now owns 97,149 shares in the company, valued at approximately $11,481,068.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

GPN traded down $0.73 on Thursday, hitting $117.75. The company had a trading volume of 971,400 shares, compared to its average volume of 1,051,697. The firm has a market cap of $18.64 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11. Global Payments Inc has a 1 year low of $87.86 and a 1 year high of $119.69. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, May 3rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. The firm had revenue of $924.30 million for the quarter, compared to analyst estimates of $914.06 million. Global Payments had a net margin of 13.27% and a return on equity of 17.66%. Global Payments’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. equities research analysts forecast that Global Payments Inc will post 4.87 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is presently 1.00%.

Global Payments announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several research analysts have recently commented on GPN shares. Barclays lifted their price target on Global Payments to $128.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “buy” rating and set a $135.00 price target on shares of Global Payments in a report on Friday, February 16th. Deutsche Bank lifted their price target on Global Payments and gave the stock a “buy” rating in a report on Friday, February 16th. SunTrust Banks reiterated a “buy” rating and set a $130.00 price target on shares of Global Payments in a report on Friday, February 16th. Finally, KeyCorp lifted their price target on Global Payments from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $112.42.

A number of large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new stake in Global Payments during the first quarter worth about $246,000. Suntrust Banks Inc. increased its stake in Global Payments by 6.1% during the first quarter. Suntrust Banks Inc. now owns 37,330 shares of the business services provider’s stock worth $4,161,000 after purchasing an additional 2,137 shares during the period. Allianz Asset Management GmbH increased its stake in Global Payments by 17.4% during the first quarter. Allianz Asset Management GmbH now owns 424,585 shares of the business services provider’s stock worth $47,350,000 after purchasing an additional 62,784 shares during the period. Amalgamated Bank increased its stake in Global Payments by 10.8% during the first quarter. Amalgamated Bank now owns 22,328 shares of the business services provider’s stock worth $2,490,000 after purchasing an additional 2,173 shares during the period. Finally, Rational Advisors LLC purchased a new stake in Global Payments during the first quarter worth about $457,000. Institutional investors own 96.28% of the company’s stock.

About Global Payments

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.

Insider Buying and Selling by Quarter for Global Payments (NYSE:GPN)

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