Sirios Capital Management L P Grows Stock Position in Global Payments Inc. (NYSE:GPN)

Sirios Capital Management L P lifted its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 28.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,058 shares of the business services provider's stock after buying an additional 38,216 shares during the period. Global Payments comprises 3.5% of Sirios Capital Management L P's investment portfolio, making the stock its 9th biggest holding. Sirios Capital Management L P owned approximately 0.07% of Global Payments worth $19,393,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GPN. Beaird Harris Wealth Management LLC acquired a new stake in Global Payments in the third quarter valued at $25,000. Whipplewood Advisors LLC purchased a new position in shares of Global Payments in the 4th quarter valued at about $37,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Global Payments in the fourth quarter valued at about $38,000. Manchester Capital Management LLC boosted 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 in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position 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 period. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GPN has been the topic of a number of research analyst reports. Wolfe Research reiterated a "peer perform" rating on shares of Global Payments in a research report on Wednesday. Bank of America reduced their target price on Global Payments from $156.00 to $149.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Williams Trading set a $75.00 price target on Global Payments in a research report on Friday, April 18th. Evercore ISI initiated coverage on Global Payments in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price objective on the stock. Finally, Barclays decreased their price objective on Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $112.86.

Global Payments Trading Up 0.7 %

GPN traded up $0.49 on Friday, reaching $72.55. 3,424,442 shares of the company's stock were exchanged, compared to its average volume of 2,415,598. The company has a market cap of $17.84 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $126.42. The company's 50 day moving average is $91.97 and its 200-day moving average is $103.94.

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 net margin of 15.54% and a return on equity of 12.21%. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.31 billion. Equities analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Friday, March 14th. Global Payments's payout ratio is 16.18%.

Global Payments 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.