Trade Report: The Spectrum Management Group Inc. decreases its position in Global Payments Inc. (GPN)

The Spectrum Management Group Inc. decreases its position in Global Payments Inc. (GPN)

Spectrum Management Group Inc. lowered its stake in Global Payments Inc. (NYSE:GPN) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 17,417 shares of the company’s stock after selling 35 shares during the period. Global Payments makes up 0.5% of Spectrum Management Group Inc.’s investment portfolio, making the stock its 19th largest position. Spectrum Management Group Inc.’s holdings in Global Payments were worth $1,243,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Financial Architects Inc increased its stake in shares of Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock valued at $115,000 after buying an additional 1,501 shares in the last quarter. Raymond James Trust N.A. bought a new stake in shares of Global Payments during the second quarter valued at $250,000. Candriam Luxembourg S.C.A. bought a new stake in shares of Global Payments during the second quarter valued at $339,000. Lucus Advisors LLC increased its stake in shares of Global Payments by 6.5% in the second quarter. Lucus Advisors LLC now owns 4,840 shares of the company’s stock valued at $345,000 after buying an additional 296 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of Global Payments by 36.4% in the second quarter. LS Investment Advisors LLC now owns 4,881 shares of the company’s stock valued at $348,000 after buying an additional 1,303 shares in the last quarter. 96.56% of the stock is owned by hedge funds and other institutional investors.

Global Payments Inc. (NYSE:GPN) traded down 0.42% during trading on Friday, hitting $73.04. The stock had a trading volume of 927,014 shares. The company has a 50 day moving average of $75.74 and a 200-day moving average of $74.32. Global Payments Inc. has a 12-month low of $51.29 and a 12-month high of $79.93. The company has a market cap of $11.23 billion, a P/E ratio of 37.59 and a beta of 1.09.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The business earned $939.50 million during the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The company’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. On average, equities analysts predict that Global Payments Inc. will post $3.48 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio (DPR) is presently 2.06%.

Several brokerages recently weighed in on GPN. Barclays PLC increased their price target on Global Payments from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, September 30th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $85.00 price target on shares of Global Payments in a report on Friday, October 7th. Robert W. Baird reissued an “outperform” rating and issued a $88.00 target price on shares of Global Payments in a report on Thursday. Nomura raised their target price on Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. Finally, Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $78.03.

In related news, Director William I. Jacobs sold 6,360 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $75.21, for a total transaction of $478,335.60. Following the transaction, the director now directly owns 44,716 shares of the company’s stock, valued at $3,363,090.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the company’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $76.61, for a total value of $497,965.00. Following the transaction, the director now directly owns 362,063 shares in the company, valued at $27,737,646.43. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Global Payments Company Profile

Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.

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