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.
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.
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