Global Payments Inc. (NYSE:GPN) Sees Significant Growth in Short Interest

Global Payments Inc. (NYSE:GPNGet Rating) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,660,000 shares, a growth of 22.8% from the March 15th total of 2,980,000 shares. Based on an average trading volume of 2,160,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.3% of the company’s shares are short sold.

In other Global Payments news, Director William I. Jacobs sold 500 shares of the business’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $127.99, for a total transaction of $63,995.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David M. Sheffield sold 1,006 shares of the business’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $132.55, for a total value of $133,345.30. The disclosure for this sale can be found here. Insiders sold 2,006 shares of company stock worth $270,255 in the last quarter. 1.19% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB lifted its position in Global Payments by 1,412.9% in the third quarter. Nordea Investment Management AB now owns 4,321,589 shares of the business services provider’s stock worth $692,794,000 after purchasing an additional 4,035,932 shares during the period. Boston Partners acquired a new stake in Global Payments in the third quarter worth approximately $440,786,000. Victory Capital Management Inc. lifted its position in Global Payments by 2,266.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,895,022 shares of the business services provider’s stock worth $391,349,000 after purchasing an additional 2,772,706 shares during the period. Norges Bank acquired a new stake in Global Payments in the fourth quarter worth approximately $352,599,000. Finally, Franklin Resources Inc. lifted its position in Global Payments by 197.7% in the third quarter. Franklin Resources Inc. now owns 2,457,841 shares of the business services provider’s stock worth $387,306,000 after purchasing an additional 1,632,202 shares during the period. Institutional investors and hedge funds own 84.90% of the company’s stock.

Shares of NYSE GPN traded up $4.39 during midday trading on Tuesday, hitting $144.60. 1,547,925 shares of the company’s stock were exchanged, compared to its average volume of 2,175,238. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s 50 day moving average price is $135.78 and its 200-day moving average price is $138.49. The firm has a market cap of $40.73 billion, a P/E ratio of 43.11, a PEG ratio of 0.89 and a beta of 1.06. Global Payments has a twelve month low of $116.75 and a twelve month high of $220.81.

Global Payments (NYSE:GPNGet Rating) last issued its quarterly earnings data on Thursday, February 10th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.03. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $1.97 billion. Global Payments had a return on equity of 8.51% and a net margin of 11.33%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.69 earnings per share. On average, analysts expect that Global Payments will post 9.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.69%. Global Payments’s dividend payout ratio is presently 30.49%.

A number of research analysts have commented on GPN shares. BNP Paribas upgraded Global Payments to an “outperform” rating in a research note on Monday, January 10th. They noted that the move was a valuation call. KeyCorp cut their price target on Global Payments from $175.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, March 28th. Deutsche Bank Aktiengesellschaft cut their price target on Global Payments from $237.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, January 6th. Morgan Stanley cut their price target on Global Payments from $173.00 to $162.00 and set an “equal weight” rating on the stock in a research note on Friday, February 11th. Finally, Stephens began coverage on Global Payments in a research note on Wednesday, April 6th. They issued an “overweight” rating and a $170.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $190.52.

About Global Payments (Get Rating)

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.

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