Boothbay Fund Management LLC Has $11.03 Million Position in Global Payments Inc. (NYSE:GPN)

Boothbay Fund Management LLC raised its holdings in shares of Global Payments Inc. (NYSE:GPN) by 402.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,457 shares of the business services provider’s stock after purchasing an additional 78,859 shares during the quarter. Boothbay Fund Management LLC’s holdings in Global Payments were worth $11,033,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GPN. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Global Payments during the 4th quarter worth about $1,708,000. Coldstream Capital Management Inc. boosted its holdings in shares of Global Payments by 6.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 21,492 shares of the business services provider’s stock worth $2,408,000 after acquiring an additional 1,301 shares during the period. North Reef Capital Management LP grew its position in shares of Global Payments by 4.4% in the fourth quarter. North Reef Capital Management LP now owns 881,999 shares of the business services provider’s stock valued at $98,837,000 after purchasing an additional 36,999 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Global Payments during the fourth quarter worth approximately $3,148,000. Finally, Guardian Wealth Management Inc. bought a new position in shares of Global Payments during the fourth quarter worth approximately $2,282,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Price Performance

Global Payments stock opened at $72.55 on Friday. The company has a market capitalization of $17.84 billion, a PE ratio of 11.74, a P/E/G ratio of 0.86 and a beta of 0.97. 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 moving average price of $91.97 and a two-hundred day moving average price of $103.94. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $126.42.

Global Payments (NYSE:GPN) last posted its earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, March 14th. Global Payments’s payout ratio is presently 16.18%.

Analyst Ratings Changes

A number of brokerages have commented on GPN. KeyCorp decreased their price objective on Global Payments from $145.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $135.00 to $78.00 in a research report on Thursday, April 17th. Barclays cut their price objective on shares of Global Payments from $125.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Morgan Stanley decreased their target price on shares of Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $122.00 price target (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Global Payments has a consensus rating of “Hold” and an average target price of $112.86.

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.