Information technology company board member buys $499,000 worth of stock – Global Payments (NYSE: GPN)

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Mr Troy Woodsmember of the board of directors of Global Payments GPNreported a large insider buy on Nov. 7, according to a new SEC filing.

What happened: A Form 4 filed Monday by the U.S. Securities and Exchange Commission showed Woods purchased 5,247 shares of Global Payments. The total transaction amounted to $499,829.

Global Payments the shares are trading up 0.06% at $99.2 at the time of this writing on Tuesday morning.

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The importance of insider trading

Insider trading should not be used primarily to make an investment decision, but insider trading can be an important factor in the investment decision.

In legal terms, an “insider” is any shareholder who owns at least 10% of a company. This can include senior executives and large hedge funds. These insiders are required to notify the public of their trades via a Form 4 filing, which must be filed within two business days of the trade.

When a company insider makes a new purchase, it indicates that they expect the stock to rise.

Insider selling, on the other hand, can be done for a variety of reasons and does not necessarily mean that the seller thinks the stock will go down.

Important transaction codes

Investors prefer to focus on transactions that take place in the open market, shown in Table I of the Form 4 filing. P in box 3 indicates a purchase, while S indicates a sale. Transaction code VS indicates the conversion of an option, and the transaction code A indicates that the insider may have been forced to sell stock in order to receive compensation that was promised when hired by the company.

View the full list of Global Payments insider transactions.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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