Bayesian Capital Management LP Takes $3.88 Million Position in Global Payments Inc. (NYSE:GPN)

Bayesian Capital Management LP purchased a new position in Global Payments Inc. (NYSE:GPN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 34,584 shares of the business services provider's stock, valued at approximately $3,875,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GPN. Sage Capital Advisors llc lifted its position in shares of Global Payments by 0.3% during the fourth quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider's stock worth $3,164,000 after purchasing an additional 96 shares in the last quarter. Private Trust Co. NA grew its holdings in Global Payments by 11.2% during the fourth quarter. Private Trust Co. NA now owns 992 shares of the business services provider's stock worth $111,000 after purchasing an additional 100 shares during the period. Truvestments Capital LLC increased its holdings in shares of Global Payments by 2.9% during the 4th quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider's stock worth $413,000 after acquiring an additional 103 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Global Payments by 5.9% in the fourth quarter. Greenleaf Trust now owns 2,068 shares of the business services provider's stock valued at $232,000 after purchasing an additional 115 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Global Payments by 1.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider's stock valued at $1,228,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

Global Payments Stock Performance

NYSE GPN traded down $0.40 during mid-day trading on Wednesday, reaching $78.88. 3,119,180 shares of the stock were exchanged, compared to its average volume of 2,412,049. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The business's 50 day moving average is $88.25 and its 200-day moving average is $102.79. The company has a market capitalization of $19.39 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.86 and a beta of 0.96.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.09. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm posted $2.59 earnings per share. The company's revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. Global Payments's dividend payout ratio is currently 16.18%.

Analysts Set New Price Targets

GPN has been the topic of several analyst reports. Jefferies Financial Group lowered Global Payments from a "buy" rating to a "hold" rating and set a $75.00 target price on the stock. in a report on Friday, April 18th. Morgan Stanley dropped their price target on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on Global Payments from $115.00 to $85.00 and set a "neutral" rating on the stock in a report on Wednesday. KeyCorp increased their price target on Global Payments from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Robert W. Baird dropped their target price on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $112.09.

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.