Cameron M. Bready Sells 57,737 Shares of Global Payments Inc (GPN) Stock

Global Payments Inc (NYSE:GPN) insider Cameron M. Bready sold 57,737 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $127.78, for a total transaction of $7,377,633.86. Following the completion of the transaction, the insider now owns 189,083 shares of the company’s stock, valued at approximately $24,161,025.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of GPN stock opened at $128.59 on Friday. The firm has a market capitalization of $20.24 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 1.51 and a beta of 1.20. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.06. Global Payments Inc has a one year low of $92.97 and a one year high of $129.25.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, August 2nd. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. The firm had revenue of $982.50 million during the quarter, compared to analysts’ expectations of $968.75 million. Global Payments had a net margin of 14.86% and a return on equity of 17.99%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 earnings per share. equities research analysts predict that Global Payments Inc will post 4.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, September 13th. Global Payments’s dividend payout ratio is currently 2.99%.

Several research firms have recently weighed in on GPN. Deutsche Bank upped their price target on shares of Global Payments to $140.00 and gave the company a “buy” rating in a report on Friday. Wedbush upped their price target on shares of Global Payments from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, August 28th. Nomura restated a “sell” rating and set a $97.00 target price on shares of Global Payments in a report on Monday, August 6th. KeyCorp restated a “buy” rating on shares of Global Payments in a report on Friday, August 3rd. Finally, Buckingham Research increased their target price on shares of Global Payments from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have issued a buy rating to the company. Global Payments has a consensus rating of “Buy” and a consensus price target of $118.84.

A number of hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its stake in Global Payments by 8.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,863 shares of the business services provider’s stock valued at $654,000 after acquiring an additional 443 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Global Payments by 1.9% in the second quarter. State of Alaska Department of Revenue now owns 25,628 shares of the business services provider’s stock valued at $2,856,000 after acquiring an additional 469 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in Global Payments by 6.5% in the second quarter. First Republic Investment Management Inc. now owns 8,079 shares of the business services provider’s stock valued at $901,000 after acquiring an additional 494 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Global Payments by 9.8% in the second quarter. Riverhead Capital Management LLC now owns 5,838 shares of the business services provider’s stock valued at $651,000 after acquiring an additional 519 shares during the last quarter. Finally, North Star Asset Management Inc. lifted its stake in Global Payments by 0.3% in the second quarter. North Star Asset Management Inc. now owns 164,406 shares of the business services provider’s stock valued at $18,330,000 after acquiring an additional 535 shares during the last quarter. Hedge funds and other institutional investors own 96.33% of the company’s stock.

About Global Payments

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.

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Insider Buying and Selling by Quarter for Global Payments (NYSE:GPN)

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