Oribel Capital Management LP Has $58.42 Million Stock Position in Global Payments Inc. (NYSE:GPN)

Oribel Capital Management LP lifted its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 495.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 521,300 shares of the business services provider's stock after acquiring an additional 433,700 shares during the period. Global Payments accounts for about 2.0% of Oribel Capital Management LP's investment portfolio, making the stock its 6th largest position. Oribel Capital Management LP owned 0.20% of Global Payments worth $58,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Lyrical Asset Management LP grew its holdings in Global Payments by 4.4% during the 4th quarter. Lyrical Asset Management LP now owns 1,834,046 shares of the business services provider's stock valued at $205,523,000 after purchasing an additional 77,487 shares in the last quarter. Gator Capital Management LLC raised its position in shares of Global Payments by 0.3% in the 4th quarter. Gator Capital Management LLC now owns 86,725 shares of the business services provider's stock valued at $9,718,000 after purchasing an additional 220 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Global Payments by 56.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,117,669 shares of the business services provider's stock valued at $125,230,000 after buying an additional 402,172 shares during the last quarter. Aviva PLC grew its position in shares of Global Payments by 424.8% during the fourth quarter. Aviva PLC now owns 86,215 shares of the business services provider's stock worth $9,661,000 after buying an additional 69,786 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Global Payments in the fourth quarter worth $8,361,000. 89.76% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have commented on GPN. Evercore ISI began coverage on shares of Global Payments in a research note on Wednesday. They set an "in-line" rating and a $85.00 price objective on the stock. Bank of America reduced their price target on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Stephens lowered Global Payments from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $125.00 to $120.00 in a report on Friday, January 10th. Morgan Stanley reduced their target price on Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Citigroup decreased their target price on Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Global Payments currently has a consensus rating of "Hold" and a consensus target price of $130.52.

Global Payments Stock Performance

GPN stock traded up $0.75 during trading on Friday, reaching $83.99. 1,063,170 shares of the company's stock were exchanged, compared to its average volume of 2,229,611. Global Payments Inc. has a 1-year low of $77.83 and a 1-year high of $127.66. The firm has a market cap of $20.65 billion, a PE ratio of 13.54, a P/E/G ratio of 0.86 and a beta of 0.97. The company's fifty day moving average price is $99.10 and its 200-day moving average price is $105.74. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.14). Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. On average, research analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. Global Payments's dividend payout ratio is currently 16.18%.

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.