Spectrum Management Group Inc. Has $1.13 Million Stake in Global Payments Inc. (GPN)
Spectrum Management Group Inc. trimmed its position in Global Payments Inc. (NYSE:GPN) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,933 shares of the business services provider’s stock after selling 732 shares during the quarter. Spectrum Management Group Inc.’s holdings in Global Payments were worth $1,134,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in GPN. Janus Henderson Group PLC raised its holdings in shares of Global Payments by 11,779.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock valued at $207,086,000 after purchasing an additional 2,273,498 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Global Payments by 162.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock valued at $296,636,000 after purchasing an additional 2,030,880 shares in the last quarter. Capital International Investors acquired a new stake in shares of Global Payments in the 2nd quarter valued at $173,900,000. Capital Guardian Trust Co. acquired a new stake in shares of Global Payments in the 2nd quarter valued at $49,793,000. Finally, Vanguard Group Inc. raised its holdings in shares of Global Payments by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after purchasing an additional 448,864 shares in the last quarter. Institutional investors and hedge funds own 97.90% of the company’s stock.
In other Global Payments news, Director William I. Jacobs sold 8,428 shares of Global Payments stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $94.05, for a total transaction of $792,653.40. Following the completion of the transaction, the director now owns 40,675 shares in the company, valued at $3,825,483.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $98.32, for a total transaction of $58,992.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,555 shares of company stock valued at $6,951,810. 0.93% of the stock is currently owned by company insiders.
Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. research analysts forecast that Global Payments Inc. will post 3.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date is Thursday, December 14th. Global Payments’s payout ratio is currently 2.23%.
Several brokerages recently commented on GPN. Zacks Investment Research lowered shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. William Blair reiterated an “outperform” rating on shares of Global Payments in a research note on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $100.00 price target on shares of Global Payments in a research note on Thursday, August 3rd. Royal Bank Of Canada cut their price target on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Finally, Barclays PLC lifted their price target on shares of Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $105.01.
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 through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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