Invenomic Capital Management LP Has $61.73 Million Stock Position in Global Payments Inc. $GPN

Key Points

• Invenomic Capital Management increased its stake in Global Payments by 17.1% in the fourth quarter, bringing its holdings to 797,496 shares valued at about $61.7 million. The stock is now the fund’s second-largest position and represents about 2.9% of its portfolio.
• Institutional ownership remains heavy, with 89.76% of Global Payments shares held by institutions. Several other funds also added to or initiated positions in the company during recent quarters.
• Analyst sentiment has turned more cautious: recent cuts and lower price targets leave Global Payments with a “Hold” consensus rating and an average price target of $84.73, even after the company beat earnings and revenue estimates last quarter.

Invenomic Capital Management LP raised its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 797,496 shares of the business services provider's stock after purchasing an additional 116,402 shares during the period. Global Payments makes up approximately 2.9% of Invenomic Capital Management LP's holdings, making the stock its 2nd biggest position. Invenomic Capital Management LP owned 0.34% of Global Payments worth $61,726,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Westpac Banking Corp raised its stake in shares of Global Payments by 5,795.1% in the 4th quarter. Westpac Banking Corp now owns 57,182 shares of the business services provider's stock valued at $4,426,000 after buying an additional 56,212 shares in the last quarter. Moore Capital Management LP raised its stake in shares of Global Payments by 13.3% in the 3rd quarter. Moore Capital Management LP now owns 231,200 shares of the business services provider's stock valued at $19,208,000 after buying an additional 27,200 shares in the last quarter. Jain Global LLC acquired a new position in shares of Global Payments in the 3rd quarter valued at $10,656,000. Pzena Investment Management LLC raised its stake in shares of Global Payments by 4.6% in the 4th quarter. Pzena Investment Management LLC now owns 11,409,697 shares of the business services provider's stock valued at $883,111,000 after buying an additional 500,887 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Global Payments by 30.8% in the 4th quarter. LSV Asset Management now owns 448,100 shares of the business services provider's stock valued at $34,683,000 after buying an additional 105,500 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GPN shares. Raymond James Financial cut shares of Global Payments from an "outperform" rating to a "market perform" rating in a research note on Thursday, March 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Global Payments from $75.00 to $70.00 and set a "hold" rating for the company in a research note on Tuesday, June 9th. Weiss Ratings cut shares of Global Payments from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. Argus dropped their price objective on shares of Global Payments from $100.00 to $95.00 in a research note on Friday, May 8th. Finally, Truist Financial dropped their price objective on shares of Global Payments from $81.00 to $76.00 and set a "hold" rating for the company in a research note on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Global Payments presently has a consensus rating of "Hold" and a consensus price target of $84.73.

Global Payments Trading Down 2.9%

Shares of Global Payments stock opened at $66.49 on Thursday. The stock has a market capitalization of $18.19 billion, a P/E ratio of -32.59, a price-to-earnings-growth ratio of 0.38 and a beta of 0.76. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.86. The company has a 50-day simple moving average of $69.18 and a 200 day simple moving average of $72.93. Global Payments Inc. has a 12-month low of $61.16 and a 12-month high of $90.64.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Wednesday, May 6th. The business services provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.14. The business had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.81 billion. Global Payments had a negative net margin of 7.99% and a positive return on equity of 13.11%. The firm's revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter last year, the company posted $2.82 EPS. Global Payments has set its FY 2026 guidance at 13.800-14.000 EPS. Research analysts expect that Global Payments Inc. will post 13.88 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Global Payments's dividend payout ratio (DPR) is -49.02%.

Global Payments Profile

Global Payments Inc NYSE: GPN is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.

Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc. (NYSE:GPN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.