Global Payments Inc. (GPN) Trading Down 3.6%
Global Payments Inc. (NYSE:GPN) shares dropped 3.6% during trading on Friday . The company traded as low as $75.00 and last traded at $75.40, with a volume of 1,740,566 shares trading hands. The stock had previously closed at $78.19.
A number of research analysts have issued reports on GPN shares. Nomura lifted their price objective on Global Payments from $64.00 to $66.00 in a research note on Friday. Citigroup Inc. reissued a “buy” rating and set a $78.00 price target (up previously from $73.00) on shares of Global Payments in a report on Thursday, April 7th. Credit Suisse Group AG reissued a “buy” rating and set a $68.00 price target on shares of Global Payments in a report on Thursday, March 31st. JPMorgan Chase & Co. reissued a “buy” rating on shares of Global Payments in a report on Saturday, April 9th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $72.00 price objective on shares of Global Payments in a research report on Sunday, April 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $75.91.
The firm has a market cap of $9.65 billion and a PE ratio of 32.63. The company’s 50-day moving average price is $74.58 and its 200-day moving average price is $68.24.
Global Payments (NYSE:GPN) last posted its earnings results on Thursday, July 28th. The company reported $0.73 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.73. The business had revenue of $747.10 million for the quarter, compared to analyst estimates of $568.81 million. During the same quarter last year, the business earned $1.22 earnings per share. Global Payments’s revenue was up 5.7% on a year-over-year basis. Equities analysts forecast that Global Payments Inc. will post $3.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date of this dividend is Wednesday, August 10th.
In related news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the firm’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $76.61, for a total value of $497,965.00. Following the transaction, the director now directly owns 362,063 shares of the company’s stock, valued at approximately $27,737,646.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total transaction of $45,480.00. Following the completion of the transaction, the director now directly owns 44,716 shares in the company, valued at $3,389,472.80. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of GPN. OppenheimerFunds Inc. raised its position in shares of Global Payments by 114.0% in the fourth quarter. OppenheimerFunds Inc. now owns 340,597 shares of the company’s stock worth $21,972,000 after buying an additional 181,447 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of Global Payments by 98.0% in the fourth quarter. State of Wisconsin Investment Board now owns 98,390 shares of the company’s stock worth $6,347,000 after buying an additional 48,705 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Global Payments by 112.0% in the fourth quarter. Vanguard Group Inc. now owns 9,369,157 shares of the company’s stock worth $604,403,000 after buying an additional 4,950,084 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Global Payments by 100.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,657 shares of the company’s stock worth $2,429,000 after buying an additional 18,858 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Global Payments by 28.2% in the fourth quarter. Morgan Stanley now owns 336,984 shares of the company’s stock worth $21,740,000 after buying an additional 74,098 shares in the last quarter.
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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