Global Payments Sees Unusually High Options Volume (GPN)

Global Payments Inc (NYSE:GPN) was the recipient of some unusual options trading on Monday. Investors purchased 1,700 call options on the company. This is an increase of 2,167% compared to the typical volume of 75 call options.

In related news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $117.34, for a total value of $352,020.00. Following the completion of the transaction, the director now directly owns 90,149 shares of the company’s stock, valued at $10,578,083.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $128.76, for a total value of $531,135.00. Following the completion of the transaction, the director now directly owns 83,024 shares of the company’s stock, valued at $10,690,170.24. The disclosure for this sale can be found here. Insiders sold 93,430 shares of company stock valued at $11,833,594 over the last ninety days. 0.98% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GPN. FMR LLC raised its position in Global Payments by 12.5% in the second quarter. FMR LLC now owns 9,712,626 shares of the business services provider’s stock worth $1,082,860,000 after acquiring an additional 1,082,153 shares in the last quarter. Janus Henderson Group PLC raised its position in Global Payments by 36.5% in the second quarter. Janus Henderson Group PLC now owns 3,501,061 shares of the business services provider’s stock worth $390,333,000 after acquiring an additional 935,336 shares in the last quarter. Temasek Holdings Private Ltd raised its position in Global Payments by 252.8% in the second quarter. Temasek Holdings Private Ltd now owns 876,176 shares of the business services provider’s stock worth $97,685,000 after acquiring an additional 627,814 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Global Payments by 209.3% in the first quarter. The Manufacturers Life Insurance Company now owns 681,013 shares of the business services provider’s stock worth $75,948,000 after acquiring an additional 460,813 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. purchased a new position in Global Payments in the second quarter worth $39,267,000. 96.31% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE GPN opened at $117.86 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.09 and a quick ratio of 1.09. Global Payments has a 1-year low of $95.32 and a 1-year high of $129.25. The firm has a market cap of $20.15 billion, a P/E ratio of 29.39, a P/E/G ratio of 1.51 and a beta of 1.19.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, August 2nd. The business services provider reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.07. Global Payments had a return on equity of 17.99% and a net margin of 14.86%. The firm had revenue of $982.50 million during the quarter, compared to the consensus estimate of $968.75 million. During the same period last year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, sell-side analysts predict that Global Payments will post 4.87 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 13th. Global Payments’s dividend payout ratio is presently 1.00%.

Several equities research analysts have recently weighed in on GPN shares. Zacks Investment Research downgraded Global Payments from a “hold” rating to a “sell” rating in a report on Monday, July 23rd. Morgan Stanley increased their price objective on Global Payments from $119.00 to $124.00 and gave the company a “$117.08” rating in a report on Thursday, July 19th. Buckingham Research increased their price objective on Global Payments from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Deutsche Bank increased their price objective on Global Payments to $140.00 and gave the company a “buy” rating in a report on Friday, September 14th. Finally, BMO Capital Markets started coverage on Global Payments in a report on Wednesday, September 26th. They issued an “outperform” rating and a $139.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $119.00.

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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