Global Payments Inc (NYSE:GPN) insider Cameron M. Bready sold 34,308 shares of Global Payments stock in a transaction on Monday, March 11th. The stock was sold at an average price of $131.33, for a total transaction of $4,505,669.64. Following the sale, the insider now directly owns 138,520 shares in the company, valued at approximately $18,191,831.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of GPN stock opened at $132.35 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $20.79 billion, a PE ratio of 25.50, a PEG ratio of 1.30 and a beta of 1.20. Global Payments Inc has a twelve month low of $94.81 and a twelve month high of $134.49.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, February 13th. The business services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.08. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Global Payments had a net margin of 13.43% and a return on equity of 19.11%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. As a group, analysts forecast that Global Payments Inc will post 5.72 earnings per share for the current year.
Several equities research analysts have issued reports on GPN shares. Jefferies Financial Group started coverage on shares of Global Payments in a research note on Thursday, February 28th. They set a “buy” rating and a $150.00 target price on the stock. Goldman Sachs Group raised shares of Global Payments from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $122.00 to $128.00 in a research note on Tuesday, January 8th. Zacks Investment Research cut shares of Global Payments from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. KeyCorp lowered their target price on shares of Global Payments from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. Finally, Nomura reaffirmed a “sell” rating and set a $91.00 target price (down previously from $97.00) on shares of Global Payments in a research note on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $134.74.
Several hedge funds have recently made changes to their positions in GPN. Ranger Investment Management L.P. acquired a new position in shares of Global Payments during the 4th quarter valued at about $26,000. JOYN Advisors Inc. boosted its position in shares of Global Payments by 58.7% during the 4th quarter. JOYN Advisors Inc. now owns 346 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 128 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Global Payments by 35.7% during the 4th quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 107 shares during the last quarter. Private Capital Group LLC boosted its position in shares of Global Payments by 164.1% during the 4th quarter. Private Capital Group LLC now owns 544 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 338 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Global Payments during the 4th quarter valued at about $67,000. 97.84% of the stock is currently owned by hedge funds and other institutional investors.
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About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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