Armbruster Capital Management Inc. Maintains Position in Global Payments Inc. (GPN)

Armbruster Capital Management Inc. continued to hold its stake in shares of Global Payments Inc. (NYSE:GPN) during the second quarter, Holdings Channel reports. The fund owned 1,450 shares of the business services provider’s stock at the end of the second quarter. Armbruster Capital Management Inc.’s holdings in Global Payments were worth $131,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in GPN. Financial Architects Inc boosted its stake in shares of Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock valued at $149,000 after buying an additional 233 shares during the last quarter. Morgan Dempsey Capital Management LLC boosted its stake in shares of Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock valued at $162,000 after buying an additional 930 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after buying an additional 933 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Global Payments during the first quarter valued at about $200,000. Finally, Lakeview Capital Partners LLC purchased a new stake in shares of Global Payments during the second quarter valued at about $200,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.

Global Payments Inc. (NYSE:GPN) opened at 96.76 on Tuesday. The company has a market capitalization of $14.75 billion, a price-to-earnings ratio of 76.13 and a beta of 1.09. Global Payments Inc. has a one year low of $64.63 and a one year high of $97.94. The company has a 50-day moving average price of $91.38 and a 200-day moving average price of $84.38.

Global Payments (NYSE:GPN) last posted its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The company had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. Global Payments’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts anticipate that Global Payments Inc. will post $3.94 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, September 14th. Global Payments’s dividend payout ratio (DPR) is currently 3.07%.

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GPN has been the topic of several research reports. Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a research note on Monday, May 15th. Cantor Fitzgerald restated a “buy” rating and set a $97.00 price objective (up previously from $93.00) on shares of Global Payments in a research note on Monday, May 8th. Barclays PLC restated a “buy” rating and set a $96.00 price objective on shares of Global Payments in a research note on Friday, May 5th. Royal Bank Of Canada restated a “buy” rating and set a $90.00 price objective on shares of Global Payments in a research note on Friday, May 5th. Finally, Stifel Nicolaus initiated coverage on Global Payments in a research note on Thursday, June 1st. They set a “buy” rating and a $102.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $93.09.

In other news, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of Global Payments stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the transaction, the director now owns 183,177 shares in the company, valued at $17,401,815. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $87.72, for a total transaction of $52,632.00. Following the completion of the transaction, the director now owns 42,475 shares of the company’s stock, valued at approximately $3,725,907. The disclosure for this sale can be found here. Insiders sold 30,702 shares of company stock valued at $2,847,076 in the last quarter. 0.93% of the stock is currently owned by corporate insiders.

About Global Payments

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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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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