Red Spruce Capital LLC Has $2.30 Million Stake in Global Payments Inc. (NYSE:GPN)

Red Spruce Capital LLC increased its holdings in shares of Global Payments Inc. (NYSE:GPN) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,416 shares of the business services provider’s stock after acquiring an additional 727 shares during the quarter. Red Spruce Capital LLC’s holdings in Global Payments were worth $2,296,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GPN. New Covenant Trust Company N.A. bought a new position in Global Payments during the first quarter worth $31,000. LRI Investments LLC acquired a new position in Global Payments in the 1st quarter valued at about $32,000. POM Investment Strategies LLC acquired a new position in Global Payments in the 2nd quarter valued at about $32,000. West Paces Advisors Inc. raised its holdings in Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 109 shares during the period. Finally, North Star Investment Management Corp. lifted its position in Global Payments by 154.7% during the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after acquiring an additional 215 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on GPN. StockNews.com downgraded Global Payments from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Seaport Res Ptn cut Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. BTIG Research downgraded Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Wells Fargo & Company initiated coverage on shares of Global Payments in a research note on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price target on the stock. Finally, Royal Bank of Canada lowered their price target on shares of Global Payments from $158.00 to $143.00 and set an “outperform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.55.

Global Payments Trading Up 0.5 %

Shares of NYSE:GPN traded up $0.46 during midday trading on Friday, hitting $98.65. 1,963,689 shares of the stock were exchanged, compared to its average volume of 2,288,836. The business’s 50-day moving average price is $105.54 and its 200 day moving average price is $108.03. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 0.71 and a beta of 0.98. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. Global Payments’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.48 earnings per share. Analysts predict that Global Payments Inc. will post 11.07 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, September 13th. Global Payments’s payout ratio is presently 19.84%.

Insider Buying and Selling at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the sale, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.