David M. Sheffield Sells 2,016 Shares of Global Payments Inc. (NYSE:GPN) Stock

Posted by Defense World Staff on Aug 6th, 2023

Global Payments Inc. (NYSE:GPN – Get Free Report) CAO David M. Sheffield sold 2,016 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $119.47, for a total transaction of $240,851.52. Following the completion of the sale, the chief accounting officer now owns 25,045 shares of the company’s stock, valued at approximately $2,992,126.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Global Payments Stock Up 0.8 %

GPN stock opened at $122.65 on Friday. The firm’s fifty day simple moving average is $105.33 and its 200-day simple moving average is $106.57. The company has a market capitalization of $31.89 billion, a P/E ratio of 40.88, a price-to-earnings-growth ratio of 0.84 and a beta of 1.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 0.92. Global Payments Inc. has a 12 month low of $92.27 and a 12 month high of $136.88.

Global Payments (NYSE:GPN – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $2.62 EPS for the quarter, beating the consensus estimate of $2.43 by $0.19. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.19 billion. Global Payments had a net margin of 8.65% and a return on equity of 10.98%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.23 EPS. As a group, equities research analysts forecast that Global Payments Inc. will post 9.61 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s dividend payout ratio (DPR) is presently 33.33%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Mizuho boosted their price target on shares of Global Payments from $100.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup boosted their price objective on shares of Global Payments from $137.00 to $146.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. began coverage on shares of Global Payments in a research note on Tuesday, April 18th. They set a “neutral” rating and a $124.00 price objective for the company. Stephens boosted their price objective on shares of Global Payments from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Credit Suisse Group boosted their price objective on shares of Global Payments from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and an average target price of $146.03.

Institutional Trading of Global Payments

A number of hedge funds have recently added to or reduced their stakes in GPN. Norges Bank purchased a new stake in Global Payments during the fourth quarter worth $261,300,000. Mizuho Markets Americas LLC boosted its holdings in Global Payments by 3,956.9% during the first quarter. Mizuho Markets Americas LLC now owns 1,739,189 shares of the business services provider’s stock worth $120,543,000 after buying an additional 1,696,319 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Global Payments during the fourth quarter worth $131,733,000. Arrowstreet Capital Limited Partnership boosted its holdings in Global Payments by 101.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,256,929 shares of the business services provider’s stock worth $224,158,000 after buying an additional 1,136,866 shares in the last quarter. Finally, Morgan Stanley raised its position in Global Payments by 50.0% during the fourth quarter. Morgan Stanley now owns 3,055,514 shares of the business services provider’s stock worth $303,474,000 after acquiring an additional 1,018,338 shares during the period. 85.68% of the stock is owned by hedge funds and other institutional investors.

Global Payments Company Profile

(Get Free Report)

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Consumer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.