Soros Fund Management LLC Purchases Shares of 460,000 Global Payments Inc. (NYSE:GPN)

Soros Fund Management LLC purchased a new stake in Global Payments Inc. (NYSE:GPN - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 460,000 shares of the business services provider's stock, valued at approximately $47,113,000. Soros Fund Management LLC owned 0.18% of Global Payments as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GPN. Cromwell Holdings LLC bought a new position in Global Payments during the third quarter worth $25,000. POM Investment Strategies LLC bought a new position in shares of Global Payments in the second quarter valued at approximately $32,000. Capital Performance Advisors LLP acquired a new position in Global Payments in the third quarter worth $33,000. Whittier Trust Co. of Nevada Inc. lifted its position in Global Payments by 59.6% during the 3rd 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 in the last quarter. Finally, Quarry LP grew its stake in shares of Global Payments by 134.4% during the second quarter. Quarry LP now owns 511 shares of the business services provider's stock valued at $49,000 after purchasing an additional 293 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GPN has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price target on Global Payments from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on shares of Global Payments from $118.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 29th. BMO Capital Markets dropped their price target on Global Payments from $126.00 to $122.00 and set a "market perform" rating for the company in a report on Wednesday, September 25th. Barclays decreased their price objective on shares of Global Payments from $145.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, September 30th. Finally, BTIG Research downgraded Global Payments from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Global Payments presently has an average rating of "Moderate Buy" and a consensus target price of $137.41.

Global Payments Stock Up 1.7 %

Shares of GPN stock traded up $2.02 on Friday, hitting $117.87. 416,662 shares of the stock were exchanged, compared to its average volume of 2,265,518. The firm has a market capitalization of $30.00 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The business has a 50-day moving average of $107.76 and a 200 day moving average of $104.06. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, December 13th. Global Payments's payout ratio is 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.