Lyrical Asset Management LP Has $205.52 Million Stock Position in Global Payments Inc. (NYSE:GPN)

Lyrical Asset Management LP raised its position in Global Payments Inc. (NYSE:GPN - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,834,046 shares of the business services provider's stock after buying an additional 77,487 shares during the quarter. Global Payments comprises about 3.1% of Lyrical Asset Management LP's holdings, making the stock its 15th largest position. Lyrical Asset Management LP owned approximately 0.72% of Global Payments worth $205,523,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GPN. Beaird Harris Wealth Management LLC purchased a new position in Global Payments in the third quarter worth $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. LRI Investments LLC boosted its holdings in Global Payments by 94.4% during the third quarter. LRI Investments LLC now owns 517 shares of the business services provider's stock worth $53,000 after buying an additional 251 shares in the last quarter. Finally, 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. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Price Performance

GPN stock traded up $0.75 during trading hours on Friday, hitting $83.99. 1,063,170 shares of the stock traded hands, compared to its average volume of 2,229,611. Global Payments Inc. has a one year low of $77.83 and a one year high of $127.66. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $99.10 and a 200 day simple moving average of $105.74. The company has a market cap of $20.65 billion, a P/E ratio of 13.54, a P/E/G ratio of 0.86 and a beta of 0.97.

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Global Payments (NYSE:GPN - Get Free Report) last released 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). The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. Equities analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, March 14th. Global Payments's dividend payout ratio (DPR) is presently 16.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $122.00 target price (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Keefe, Bruyette & Woods reduced their price target on shares of Global Payments from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Monday, March 31st. StockNews.com upgraded Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Bank of America dropped 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 note on Friday, February 14th. Finally, Morgan Stanley cut their target price on Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $130.52.

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.