Global Payments Sees Unusually High Options Volume (NYSE:GPN)

Global Payments Inc. (NYSE:GPN) was the recipient of some unusual options trading on Wednesday. Investors bought 6,514 put options on the stock. This represents an increase of 110% compared to the typical daily volume of 3,105 put options.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $172.00 target price on shares of Global Payments in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods decreased their price objective on Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. StockNews.com lowered Global Payments from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Citigroup reduced their price target on Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, KeyCorp lowered their price objective on Global Payments from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.32.

Global Payments Stock Down 0.5 %

Global Payments stock traded down $0.51 on Wednesday, hitting $101.31. 349,611 shares of the stock traded hands, compared to its average volume of 2,279,828. Global Payments has a 1 year low of $91.60 and a 1 year high of $141.77. The firm has a market cap of $25.86 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 0.65 and a beta of 0.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $98.14 and its 200 day simple moving average is $116.95.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. As a group, sell-side analysts forecast that Global Payments will post 11.09 earnings per share for the current year.

Insider Activity

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the transaction, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Global Payments

Several large investors have recently made changes to their positions in GPN. Raymond James Financial Services Advisors Inc. raised its stake in Global Payments by 2.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 44,137 shares of the business services provider’s stock valued at $5,605,000 after buying an additional 863 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Global Payments by 5.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 3,068 shares of the business services provider’s stock valued at $390,000 after purchasing an additional 164 shares during the last quarter. Fifth Third Bancorp increased its stake in Global Payments by 3.2% during the 4th quarter. Fifth Third Bancorp now owns 17,722 shares of the business services provider’s stock valued at $2,251,000 after purchasing an additional 550 shares in the last quarter. TIAA Trust National Association purchased a new position in Global Payments in the fourth quarter worth about $215,000. Finally, DAVENPORT & Co LLC lifted its stake in shares of Global Payments by 2.6% in the fourth quarter. DAVENPORT & Co LLC now owns 42,803 shares of the business services provider’s stock worth $5,436,000 after buying an additional 1,104 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Company Profile

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 two segments, Merchant Solutions and Issuer 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.