Sora Investors LLC Grows Holdings in Global Payments Inc. (NYSE:GPN)

Sora Investors LLC lifted its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 42.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 150,000 shares of the business services provider's stock after acquiring an additional 45,000 shares during the quarter. Global Payments makes up about 2.7% of Sora Investors LLC's portfolio, making the stock its 13th biggest holding. Sora Investors LLC owned 0.06% of Global Payments worth $15,363,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cromwell Holdings LLC bought a new position in shares of Global Payments during the third quarter worth approximately $25,000. POM Investment Strategies LLC acquired a new stake in shares of Global Payments during the second quarter worth $32,000. Capital Performance Advisors LLP bought a new stake in shares of Global Payments in the third quarter valued at about $33,000. Whittier Trust Co. of Nevada Inc. increased its position in Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider's stock worth $39,000 after acquiring an additional 143 shares during the period. Finally, Quarry LP increased its position in Global Payments by 134.4% during the second 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 period. 89.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. B. Riley decreased their target price on shares of Global Payments from $204.00 to $194.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Jefferies Financial Group reduced their target price on Global Payments from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. Sanford C. Bernstein downgraded Global Payments from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $135.00 to $112.00 in a research note on Tuesday, October 22nd. KeyCorp cut their price objective on shares of Global Payments from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Wednesday, September 25th. Finally, Seaport Res Ptn lowered shares of Global Payments from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.41.

Global Payments Price Performance

GPN traded up $2.51 during trading on Friday, reaching $118.36. 467,141 shares of the company were exchanged, compared to its average volume of 2,265,706. 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 company has a market cap of $30.12 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 0.91 and a beta of 1.00. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The company's 50-day moving average is $107.76 and its two-hundred day moving average is $104.06.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given 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 0.84%. Global Payments's dividend payout ratio (DPR) is currently 18.83%.

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.