Neo Ivy Capital Management Takes $1.44 Million Position in Global Payments Inc. (NYSE:GPN)

Neo Ivy Capital Management purchased a new position in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,855 shares of the business services provider's stock, valued at approximately $1,440,000.

Other large investors have also recently made changes to their positions in the company. AIA Group Ltd purchased a new stake in Global Payments in the 4th quarter valued at $349,000. Oribel Capital Management LP grew its holdings in Global Payments by 495.1% in the 4th quarter. Oribel Capital Management LP now owns 521,300 shares of the business services provider's stock valued at $58,417,000 after buying an additional 433,700 shares in the last quarter. Caprock Group LLC grew its holdings in Global Payments by 9.8% in the 4th quarter. Caprock Group LLC now owns 2,313 shares of the business services provider's stock valued at $259,000 after buying an additional 206 shares in the last quarter. Van ECK Associates Corp grew its holdings in Global Payments by 106.1% in the 4th quarter. Van ECK Associates Corp now owns 50,705 shares of the business services provider's stock valued at $5,682,000 after buying an additional 26,104 shares in the last quarter. Finally, Focused Investors LLC purchased a new stake in Global Payments in the 4th quarter valued at $99,969,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPN has been the subject of several analyst reports. Citigroup restated a "buy" rating on shares of Global Payments in a report on Monday, April 21st. KeyCorp upped their target price on Global Payments from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods upped their target price on Global Payments from $78.00 to $81.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on Global Payments from $115.00 to $85.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Bank of America lowered their price target on Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $112.43.

Global Payments Stock Up 2.2%

GPN stock traded up $1.62 during mid-day trading on Tuesday, reaching $75.71. The company had a trading volume of 2,088,580 shares, compared to its average volume of 2,470,029. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. The company has a market capitalization of $18.46 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96. The firm has a fifty day simple moving average of $83.14 and a 200 day simple moving average of $100.38. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.09. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Global Payments's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 EPS. Analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

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 issued a $0.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. Global Payments's payout ratio is currently 16.13%.

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.