Worldpay Inc (WP) Stake Lifted by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. increased its holdings in shares of Worldpay Inc (NYSE:WP) by 354.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,315 shares of the business services provider’s stock after buying an additional 43,155 shares during the period. Tocqueville Asset Management L.P.’s holdings in Worldpay were worth $5,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Beacon Investment Advisory Services Inc. lifted its holdings in Worldpay by 0.5% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 128,641 shares of the business services provider’s stock valued at $10,520,000 after purchasing an additional 622 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Worldpay by 19.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,059 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 660 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Worldpay by 1.6% in the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 44,006 shares of the business services provider’s stock valued at $4,456,000 after purchasing an additional 696 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Worldpay by 1.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 42,211 shares of the business services provider’s stock valued at $3,452,000 after purchasing an additional 773 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in Worldpay by 10.6% in the 3rd quarter. First Mercantile Trust Co. now owns 8,409 shares of the business services provider’s stock valued at $851,000 after purchasing an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 88.63% of the company’s stock.

NYSE WP opened at $81.88 on Friday. Worldpay Inc has a 52 week low of $71.40 and a 52 week 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. The firm has a market cap of $25.91 billion, a PE ratio of 26.41, a P/E/G ratio of 1.42 and a beta of 0.79.

Worldpay (NYSE:WP) last posted its quarterly earnings results on Thursday, November 8th. The business services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. Worldpay had a positive return on equity of 11.66% and a negative net margin of 3.99%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts expect that Worldpay Inc will post 3.6 earnings per share for the current fiscal year.

A number of brokerages have weighed in on WP. Keefe, Bruyette & Woods restated a “buy” rating and issued a $115.00 price objective on shares of Worldpay in a report on Thursday, October 4th. Bank of America upgraded Worldpay from a “neutral” rating to a “buy” rating and raised their price objective for the company from $106.00 to $118.00 in a report on Wednesday, October 3rd. BMO Capital Markets began coverage on Worldpay in a report on Wednesday, September 26th. They issued an “outperform” rating and a $129.00 price objective on the stock. Wedbush raised their price objective on Worldpay from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, October 5th. Finally, KeyCorp raised their price objective on Worldpay from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, September 5th. Four 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 stock. Worldpay presently has an average rating of “Buy” and a consensus target price of $101.03.

In related news, insider Rohinton Kalifa sold 75,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $100.77, for a total transaction of $7,557,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark L. Heimbouch sold 29,676 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $98.26, for a total value of $2,915,963.76. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.

WARNING: “Worldpay Inc (WP) Stake Lifted by Tocqueville Asset Management L.P.” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.americanbankingnews.com/2018/12/08/worldpay-inc-wp-stake-lifted-by-tocqueville-asset-management-l-p.html.

About Worldpay

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.

Further Reading: Market Capitalization in the Stock Market

Want to see what other hedge funds are holding WP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Worldpay Inc (NYSE:WP).

Institutional Ownership by Quarter for Worldpay (NYSE:WP)

Receive News & Ratings for Worldpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worldpay and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply