Dara L. Steele-Belkin Sells 2,000 Shares of Global Payments Inc. (NYSE:GPN) Stock

Key Points

• Dara L. Steele-Belkin, General Counsel of Global Payments, sold 2,000 shares of the company's stock for a total of $172,000, reducing their position by 6.11% to 30,713 shares.
• Global Payments reported earnings of $3.10 per share, exceeding analyst estimates, with quarterly revenue stable at $2.36 billion, reflecting a 1.6% year-over-year increase.
• The company announced a quarterly dividend of $0.25 per share, translating to a 1.2% yield, with the ex-dividend date set for September 12th.

Global Payments Inc. (NYSE:GPN - Get Free Report) General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the transaction, the general counsel directly owned 30,713 shares in the company, valued at approximately $2,641,318. The trade was a 6.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Global Payments Stock Down 0.2%

GPN traded down $0.15 during trading on Monday, reaching $80.85. The company had a trading volume of 3,986,891 shares, compared to its average volume of 2,826,635. The company has a market cap of $19.62 billion, a P/E ratio of 14.14, a PEG ratio of 0.78 and a beta of 0.93. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The business's fifty day moving average price is $79.80 and its 200 day moving average price is $87.50.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.06 by $0.04. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.93 EPS. Equities analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments's dividend payout ratio (DPR) is currently 17.48%.

Institutional Investors Weigh In On Global Payments

Several institutional investors have recently bought and sold shares of the company. Chiron Capital Management LLC grew its stake in shares of Global Payments by 147.6% during the 2nd quarter. Chiron Capital Management LLC now owns 5,200 shares of the business services provider's stock worth $416,000 after acquiring an additional 3,100 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Global Payments by 5.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 83,603 shares of the business services provider's stock worth $6,692,000 after purchasing an additional 4,554 shares during the last quarter. MTM Investment Management LLC acquired a new position in Global Payments during the second quarter worth $50,000. Rockefeller Capital Management L.P. grew its position in Global Payments by 17.5% in the second quarter. Rockefeller Capital Management L.P. now owns 13,426 shares of the business services provider's stock valued at $1,075,000 after purchasing an additional 2,002 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in Global Payments in the 2nd quarter valued at $4,242,000. Institutional investors own 89.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GPN. KeyCorp restated an "overweight" rating and issued a $100.00 target price (up from $90.00) on shares of Global Payments in a report on Thursday. Royal Bank Of Canada restated a "sector perform" rating and set a $93.00 price objective (up from $86.00) on shares of Global Payments in a research report on Thursday. Robert W. Baird lowered their price objective on Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. lifted their price target on shares of Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Wall Street Zen upgraded Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $112.21.

Global Payments Company Profile

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 two segments, Merchant Solutions and Issuer 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.

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