Optimum Investment Advisors Sells 150 Shares of Global Payments Inc. $GPN

Optimum Investment Advisors trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN) by 8.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,572 shares of the business services provider’s stock after selling 150 shares during the period. Optimum Investment Advisors’ holdings in Global Payments were worth $126,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after buying an additional 317 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Global Payments in the first quarter valued at about $37,000. LRI Investments LLC raised its stake in Global Payments by 53.4% in the second quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock valued at $31,000 after buying an additional 133 shares during the last quarter. Quarry LP purchased a new stake in Global Payments in the first quarter valued at about $42,000. Finally, Golden State Wealth Management LLC raised its stake in Global Payments by 4,866.7% in the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock valued at $44,000 after buying an additional 438 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Stock Down 0.1%

Shares of GPN stock opened at $87.42 on Friday. The stock has a 50 day moving average of $86.53 and a 200 day moving average of $81.91. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $21.21 billion, a P/E ratio of 15.28, a P/E/G ratio of 0.83 and a beta of 0.98. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.04. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.Global Payments’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $2.93 earnings per share. As a group, sell-side analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 12th. Global Payments’s dividend payout ratio (DPR) is presently 17.48%.

Insider Buying and Selling

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total value of $172,000.00. Following the sale, the general counsel directly owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup upgraded Global Payments to a “strong-buy” rating in a research note on Thursday. KeyCorp cut Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday. Truist Financial increased their price target on Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. B. Riley restated a “buy” rating on shares of Global Payments in a research note on Wednesday, July 16th. Finally, UBS Group raised their price objective on Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $103.37.

Global Payments 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.