Hudson Bay Capital Management LP Reduces Holdings in Global Payments Inc. (NYSE:GPN)

Hudson Bay Capital Management LP decreased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 44.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,298 shares of the business services provider's stock after selling 42,702 shares during the period. Hudson Bay Capital Management LP's holdings in Global Payments were worth $5,861,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Optiver Holding B.V. purchased a new stake in Global Payments during the fourth quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in Global Payments during the fourth quarter worth about $37,000. Quintet Private Bank Europe S.A. purchased a new stake in Global Payments during the fourth quarter worth about $38,000. Manchester Capital Management LLC increased its holdings in Global Payments by 177.5% during the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock worth $53,000 after buying an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Global Payments by 374.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider's stock worth $64,000 after buying an additional 449 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

Global Payments Stock Down 0.7%

Global Payments stock traded down $0.61 during mid-day trading on Friday, reaching $82.37. The stock had a trading volume of 3,610,994 shares, compared to its average volume of 2,458,583. The company has a market capitalization of $20.09 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.86 and a beta of 0.96. The company has a 50-day moving average price of $85.54 and a two-hundred day moving average price of $101.88. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.09. The company had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.20 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. Global Payments's revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 EPS. On average, analysts expect 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 1.21%. The ex-dividend date is Friday, June 13th. Global Payments's payout ratio is presently 16.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GPN shares. Morgan Stanley cut their target price on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Keefe, Bruyette & Woods increased their target price on shares of Global Payments from $78.00 to $81.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Williams Trading set a $75.00 target price on shares of Global Payments in a research report on Friday, April 18th. Wolfe Research reiterated a "peer perform" rating on shares of Global Payments in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group lowered shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 target price for the company. in a research report on Friday, April 18th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $112.43.

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.