Alliancebernstein L.P. reduced its stake in shares of Worldpay Inc (NYSE:WP) by 61.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 433,796 shares of the business services provider’s stock after selling 679,715 shares during the quarter. Alliancebernstein L.P. owned about 0.14% of Worldpay worth $43,931,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Beacon Investment Advisory Services Inc. grew its position in shares of Worldpay by 0.5% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 128,641 shares of the business services provider’s stock worth $10,520,000 after buying an additional 622 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in shares of Worldpay by 1.6% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 44,006 shares of the business services provider’s stock worth $4,456,000 after buying an additional 696 shares during the period. Advisors Asset Management Inc. grew its position in shares of Worldpay by 1.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 42,211 shares of the business services provider’s stock worth $3,452,000 after buying an additional 773 shares during the period. First Mercantile Trust Co. grew its position in shares of Worldpay by 10.6% during the 3rd quarter. First Mercantile Trust Co. now owns 8,409 shares of the business services provider’s stock worth $851,000 after buying an additional 806 shares during the period. Finally, Wedbush Securities Inc. grew its position in shares of Worldpay by 29.6% during the 2nd quarter. Wedbush Securities Inc. now owns 3,791 shares of the business services provider’s stock worth $310,000 after buying an additional 866 shares during the period. Institutional investors own 90.82% of the company’s stock.
WP has been the topic of several recent analyst reports. Piper Jaffray Companies reiterated a “hold” rating and set a $105.00 price objective on shares of Worldpay in a report on Thursday, August 16th. Credit Suisse Group lifted their price objective on Worldpay from $87.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Nomura lifted their price objective on Worldpay from $105.00 to $120.00 and gave the company a “buy” rating in a report on Monday, August 20th. BMO Capital Markets initiated coverage on Worldpay in a report on Wednesday, September 26th. They set an “outperform” rating and a $129.00 price objective on the stock. Finally, Mizuho reiterated a “hold” rating and set a $88.00 price objective on shares of Worldpay in a report on Friday, August 10th. Four equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Worldpay presently has a consensus rating of “Buy” and an average target price of $101.03.
In other Worldpay news, insider Rohinton Kalifa sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $100.77, for a total transaction of $7,557,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matt Taylor sold 22,648 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $98.09, for a total value of $2,221,542.32. The disclosure for this sale can be found here. Insiders sold a total of 127,324 shares of company stock worth $12,695,256 in the last 90 days. Company insiders own 1.05% of the company’s stock.
NYSE WP opened at $85.58 on Friday. The company has a market capitalization of $25.73 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 1.41 and a beta of 0.84. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. Worldpay Inc has a 52 week low of $70.56 and a 52 week high of $103.50.
Worldpay (NYSE:WP) last released its earnings results on Thursday, November 8th. The business services provider reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Worldpay had a positive return on equity of 11.66% and a negative net margin of 3.99%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. As a group, equities analysts expect that Worldpay Inc will post 3.6 EPS for the current year.
Worldpay, Inc, through its subsidiary, Vantiv Holding, LLC, provides electronic payment processing services to merchants and financial institutions in the United States. It operates through two segments, Merchant Services and Financial Institution Services. The Merchant Services segment offers merchant acquiring and payment processing services, such as authorization and settlement, customer service, chargeback and retrieval processing, and interchange management to national merchants, and regional and small-to-mid sized businesses.
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