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

Bayesian Capital Management LP purchased a new stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,584 shares of the business services provider's stock, valued at approximately $3,875,000.

A number of other hedge funds have also recently made changes to their positions in GPN. Sage Capital Advisors llc raised its position in Global Payments by 0.3% in the 4th 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 during the period. Private Trust Co. NA increased its holdings in shares of Global Payments by 11.2% in the fourth quarter. Private Trust Co. NA now owns 992 shares of the business services provider's stock worth $111,000 after buying an additional 100 shares during the period. Truvestments Capital LLC lifted its stake in shares of Global Payments by 2.9% in the 4th quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider's stock valued at $413,000 after acquiring an additional 103 shares during the last quarter. Greenleaf Trust boosted its holdings in Global Payments by 5.9% during the 4th quarter. Greenleaf Trust now owns 2,068 shares of the business services provider's stock valued at $232,000 after acquiring an additional 115 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in Global Payments by 1.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider's stock worth $1,228,000 after acquiring an additional 117 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Stock Up 1.3 %

NYSE:GPN traded up $1.03 on Friday, reaching $80.60. 1,796,936 shares of the stock traded hands, compared to its average volume of 2,419,939. The company's fifty day simple moving average is $87.26 and its 200 day simple moving average is $102.48. The company has a market capitalization of $19.82 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.86 and a beta of 0.96. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66.

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

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, June 13th. Global Payments's payout ratio is presently 16.13%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GPN shares. Robert W. Baird dropped their price objective on Global Payments from $145.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Barclays dropped their price target on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Stephens cut shares of Global Payments from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $125.00 to $120.00 in a research report on Friday, January 10th. Williams Trading set a $75.00 target price on shares of Global Payments in a report on Friday, April 18th. Finally, Morgan Stanley reduced their price target on Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $112.09.

About Global Payments

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.