Global Payments Inc. (GPN) Sees Unusually-High Trading Volume
Shares of Global Payments Inc. (NYSE:GPN) saw unusually-high trading volume on Thursday . Approximately 1,826,969 shares changed hands during trading, an increase of 64% from the previous session’s volume of 1,112,106 shares.The stock last traded at $77.53 and had previously closed at $78.43.
GPN has been the topic of several analyst reports. Nomura boosted their target price on Global Payments from $64.00 to $66.00 in a research report on Friday. Citigroup Inc. reaffirmed a “buy” rating and issued a $78.00 price objective (up previously from $73.00) on shares of Global Payments in a research report on Thursday, April 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Global Payments in a research report on Saturday, April 9th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Global Payments in a research report on Saturday, April 9th. Finally, Deutsche Bank AG reaffirmed 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 given a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $75.91.
The stock has a 50-day moving average of $74.58 and a 200 day moving average of $68.24. The stock has a market capitalization of $11.53 billion and a PE ratio of 36.60.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. During the same period in the previous year, the firm posted $1.22 earnings per share. The firm earned $747.10 million during the quarter, compared to analyst estimates of $568.81 million. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Global Payments Inc. will post $3.48 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.05%.
In related news, Director William I. Jacobs sold 1,200 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $72.87, for a total transaction of $87,444.00. Following the completion of the transaction, the director now directly owns 45,916 shares of the company’s stock, valued at approximately $3,345,898.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was 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 $27,737,646.43. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. acquired a new position in Global Payments during the fourth quarter valued at about $1,046,000. Advantus Capital Management Inc boosted its position in Global Payments by 87.8% in the fourth quarter. Advantus Capital Management Inc now owns 17,026 shares of the company’s stock valued at $1,098,000 after buying an additional 7,962 shares in the last quarter. Trexquant Investment LP acquired a new position in Global Payments during the fourth quarter valued at about $1,226,000. Utah Retirement Systems boosted its position in Global Payments by 98.3% in the fourth quarter. Utah Retirement Systems now owns 23,776 shares of the company’s stock valued at $1,534,000 after buying an additional 11,788 shares in the last quarter. Finally, US Bancorp DE boosted its position in Global Payments by 111.2% in the fourth quarter. US Bancorp DE now owns 32,802 shares of the company’s stock valued at $2,116,000 after buying an additional 17,271 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.