Sora Investors LLC Acquires 45,000 Shares of Global Payments Inc. (NYSE:GPN)

Sora Investors LLC boosted its stake in shares of Global Payments Inc. (NYSE:GPN) by 42.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,000 shares of the business services provider’s stock after acquiring an additional 45,000 shares during the period. Global Payments accounts for 2.7% of Sora Investors LLC’s portfolio, making the stock its 13th largest holding. Sora Investors LLC owned approximately 0.06% of Global Payments worth $15,363,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in GPN. Cromwell Holdings LLC bought a new stake in Global Payments during the third quarter worth approximately $25,000. POM Investment Strategies LLC bought a new stake in Global Payments in the second quarter worth $32,000. Capital Performance Advisors LLP bought a new stake in Global Payments in the third quarter worth about $33,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after buying an additional 143 shares during the period. Finally, Quarry LP lifted its stake in shares of Global Payments by 134.4% during the 2nd quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after acquiring an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Down 0.9 %

GPN stock opened at $115.85 on Friday. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $107.76 and a 200-day simple moving average of $104.06. The stock has a market capitalization of $29.48 billion, a P/E ratio of 21.82, a P/E/G ratio of 0.91 and a beta of 1.00.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. Global Payments’s payout ratio is currently 18.83%.

Analysts Set New Price Targets

Several research analysts recently commented on GPN shares. The Goldman Sachs Group raised their price target on shares of Global Payments from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley dropped their target price on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Sanford C. Bernstein downgraded Global Payments from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Jefferies Financial Group dropped their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. decreased their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.41.

About Global Payments

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.