Global Payments Inc. (GPN) Trading Down 1.1%
Global Payments Inc. (NYSE:GPN) shares dropped 1.1% during trading on Friday . The company traded as low as $75.82 and last traded at $75.99, with a volume of 893,263 shares trading hands. The stock had previously closed at $76.82.
GPN has been the subject of several analyst reports. Nomura upped their price target on shares of Global Payments from $64.00 to $66.00 in a research report on Friday, July 29th. Robert W. Baird restated a “buy” rating on shares of Global Payments in a research report on Monday, May 16th. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Tuesday, May 24th. Credit Suisse Group AG restated a “buy” rating on shares of Global Payments in a research report on Monday, June 27th. Finally, Deutsche Bank AG restated a “buy” rating and set a $79.00 price target (up from $72.00) on shares of Global Payments in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $75.91.
The firm’s 50 day moving average is $75.68 and its 200 day moving average is $71.28. The stock has a market capitalization of $11.73 billion and a P/E ratio of 37.41.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.73 EPS for the quarter, meeting the consensus estimate of $0.73. During the same quarter in the previous year, the company posted $1.22 earnings per share. The firm had revenue of $747.10 million for the quarter, compared to the consensus estimate of $568.81 million. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts forecast that Global Payments Inc. will post $3.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.05%.
In related news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $74.34, for a total transaction of $483,210.00. Following the transaction, the director now directly owns 355,563 shares in the company, valued at approximately $26,432,553.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $73.73, for a total transaction of $44,238.00. Following the transaction, the director now owns 45,906 shares in the company, valued at $3,384,649.38. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Global Payments stock. AJO LP raised its stake in Global Payments Inc. (NYSE:GPN) by 100.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,400 shares of the company’s stock after buying an additional 10,700 shares during the period. AJO LP’s holdings in Global Payments were worth $1,381,000 at the end of the most recent 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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