Highbridge Capital Management LLC purchased a new stake in Worldpay Inc (NYSE:WP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,389 shares of the business services provider’s stock, valued at approximately $1,457,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in shares of Worldpay during the first quarter worth $3,297,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Worldpay by 64.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,617 shares of the business services provider’s stock worth $786,000 after buying an additional 3,759 shares during the period. Wells Fargo & Company MN increased its position in shares of Worldpay by 6.5% during the second quarter. Wells Fargo & Company MN now owns 1,055,912 shares of the business services provider’s stock worth $86,352,000 after buying an additional 64,273 shares during the period. First Trust Advisors LP acquired a new stake in shares of Worldpay during the second quarter worth $29,482,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Worldpay during the second quarter worth $36,212,000. Hedge funds and other institutional investors own 88.63% of the company’s stock.
In other Worldpay news, insider Rohinton Kalifa sold 75,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $100.77, for a total value of $7,557,750.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mark L. Heimbouch sold 29,676 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $98.26, for a total transaction of $2,915,963.76. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
Several equities research analysts have recently weighed in on WP shares. Nomura reiterated a “buy” rating and set a $105.00 price objective (up from $93.00) on shares of Worldpay in a research report on Sunday, August 12th. Citigroup increased their price objective on shares of Worldpay from $94.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Buckingham Research increased their price objective on shares of Worldpay from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Cowen reiterated a “buy” rating on shares of Worldpay in a research report on Friday, August 10th. Finally, Robert W. Baird reiterated a “buy” rating and set a $102.00 price objective on shares of Worldpay in a research report on Friday, August 10th. Four research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Worldpay has an average rating of “Buy” and an average target price of $101.03.
Shares of NYSE WP opened at $81.88 on Friday. The firm has a market cap of $25.64 billion, a P/E ratio of 26.41, a P/E/G ratio of 1.41 and a beta of 0.79. Worldpay Inc has a 12-month low of $71.40 and a 12-month high of $103.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 0.97.
Worldpay (NYSE:WP) last issued its earnings results on Thursday, November 8th. The business services provider reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Worldpay had a negative net margin of 3.99% and a positive return on equity of 11.66%. Worldpay’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. Equities research analysts predict that Worldpay Inc will post 3.6 earnings per share for the current fiscal year.
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Worldpay Company Profile
Worldpay, Inc, through its subsidiary, Vantiv Holding, LLC, provides electronic payment processing services to merchants and financial institutions in the United States, Europe, and Asia. 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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