Algebris UK Ltd Boosts Stake in Global Payments Inc. (NYSE:GPN)

Key Points

• Algebris UK Ltd increased its holdings in Global Payments Inc. by 112.7%, owning approximately $4.65 million worth of shares, making it the 28th largest position in its investment portfolio.
• Institutional investors currently own 89.76% of Global Payments' stock, with several firms making new investments or significantly increasing their stakes in the company during recent quarters.
• Global Payments experienced a 1.2% decrease in share price, with a market capitalization of $20.65 billion and a PE ratio of 13.66, following a quarterly earnings report that exceeded consensus estimates.

Algebris UK Ltd raised its position in Global Payments Inc. (NYSE:GPN - Free Report) by 112.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 51,304 shares of the business services provider's stock after buying an additional 27,186 shares during the period. Global Payments comprises approximately 0.8% of Algebris UK Ltd's holdings, making the stock its 28th largest holding. Algebris UK Ltd's holdings in Global Payments were worth $4,651,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Global Payments by 0.4% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,902 shares of the business services provider's stock valued at $3,795,000 after purchasing an additional 122 shares during the period. Perigon Wealth Management LLC raised its holdings in Global Payments by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock worth $385,000 after buying an additional 144 shares during the period. Transcend Capital Advisors LLC lifted its stake in Global Payments by 7.9% in the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock valued at $209,000 after acquiring an additional 157 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in Global Payments by 4.1% during the first quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock valued at $425,000 after purchasing an additional 171 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in shares of Global Payments by 1.7% in the fourth quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider's stock valued at $1,163,000 after buying an additional 172 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Stock Down 2.6%

Shares of NYSE:GPN traded down $2.08 during midday trading on Friday, hitting $77.88. 1,447,734 shares of the company's stock were exchanged, compared to its average volume of 2,791,652. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50 day moving average price of $79.12 and a 200-day moving average price of $88.94. The company has a market cap of $18.99 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.73 by $0.09. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The firm's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.59 earnings per share. On average, sell-side analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, June 13th. Global Payments's payout ratio is presently 16.13%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GPN shares. KeyCorp upped their price target on shares of Global Payments from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of Global Payments from $115.00 to $85.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Jefferies Financial Group lowered shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target on the stock. in a research note on Friday, April 18th. Williams Trading set a $75.00 price target on shares of Global Payments in a research note on Friday, April 18th. Finally, Wall Street Zen raised shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve 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 price target of $111.65.

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.