Global Payments Inc. (NYSE:GPN) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP lessened its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 21.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 535,454 shares of the business services provider's stock after selling 146,803 shares during the quarter. Global Payments makes up approximately 2.9% of Invenomic Capital Management LP's investment portfolio, making the stock its largest position. Invenomic Capital Management LP owned 0.21% of Global Payments worth $60,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in Global Payments by 2.8% in the third quarter. Principal Financial Group Inc. now owns 299,137 shares of the business services provider's stock worth $30,638,000 after purchasing an additional 8,078 shares during the period. Czech National Bank raised its stake in shares of Global Payments by 6.5% during the 4th quarter. Czech National Bank now owns 55,180 shares of the business services provider's stock worth $6,183,000 after purchasing an additional 3,349 shares during the period. Fiduciary Alliance LLC purchased a new position in Global Payments in the fourth quarter valued at about $678,000. Wedmont Private Capital lifted its stake in Global Payments by 1.8% in the fourth quarter. Wedmont Private Capital now owns 17,973 shares of the business services provider's stock valued at $1,900,000 after purchasing an additional 322 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its stake in Global Payments by 10.9% in the 4th quarter. Pallas Capital Advisors LLC now owns 5,402 shares of the business services provider's stock valued at $605,000 after acquiring an additional 530 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GPN has been the topic of several recent analyst reports. Evercore ISI began coverage on Global Payments in a report on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price target on the stock. Wolfe Research restated a "peer perform" rating on shares of Global Payments in a research report on Wednesday, April 23rd. StockNews.com downgraded shares of Global Payments from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays cut their price target on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Citigroup restated a "buy" rating on shares of Global Payments in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Global Payments presently has a consensus rating of "Hold" and a consensus price target of $112.09.

Global Payments Stock Performance

GPN stock traded up $0.01 during trading on Wednesday, hitting $82.77. 270,760 shares of the company traded hands, compared to its average volume of 2,423,276. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The company has a market cap of $20.19 billion, a PE ratio of 13.37, a P/E/G ratio of 0.86 and a beta of 0.96. The stock's 50-day simple moving average is $86.18 and its 200 day simple moving average is $102.14. 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 posted its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The business's quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.59 EPS. On average, equities analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 yield of 1.21%. Global Payments's payout ratio is 16.13%.

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.