Sterling Capital Management LLC raised its position in shares of Worldpay Inc (NYSE:WP) by 30.0% in the third quarter, HoldingsChannel.com reports. The fund owned 75,460 shares of the business services provider’s stock after acquiring an additional 17,405 shares during the period. Sterling Capital Management LLC’s holdings in Worldpay were worth $7,642,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. TRUE Private Wealth Advisors bought a new stake in shares of Worldpay during the third quarter worth approximately $112,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Worldpay in the third quarter valued at approximately $146,000. Fort L.P. bought a new stake in shares of Worldpay in the second quarter valued at approximately $120,000. Bogart Wealth LLC bought a new stake in shares of Worldpay in the second quarter valued at approximately $136,000. Finally, Cerebellum GP LLC bought a new stake in shares of Worldpay in the third quarter valued at approximately $196,000. Institutional investors own 89.19% of the company’s stock.
WP has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on Worldpay from $101.00 to $103.00 and gave the company a “top pick” rating in a research note on Friday, August 10th. Zacks Investment Research cut Worldpay from a “hold” rating to a “sell” rating in a research note on Sunday, July 15th. Bank of America upgraded Worldpay from a “neutral” rating to a “buy” rating and boosted their price target for the company from $106.00 to $118.00 in a research note on Wednesday, October 3rd. Wedbush boosted their price target on Worldpay from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, October 5th. Finally, KeyCorp boosted their price target on Worldpay from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, September 5th. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Worldpay has an average rating of “Buy” and an average target price of $100.59.
Shares of NYSE:WP opened at $92.63 on Monday. The firm has a market cap of $28.90 billion, a PE ratio of 29.88, a P/E/G ratio of 1.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. Worldpay Inc has a 52-week low of $67.96 and a 52-week high of $103.50.
Worldpay (NYSE:WP) last announced its quarterly earnings results on Thursday, August 9th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.09. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $978.81 million. Worldpay had a negative net margin of 1.72% and a positive return on equity of 14.55%. The firm’s revenue for the quarter was up 90.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Worldpay Inc will post 3.64 EPS for the current year.
In other news, CFO Stephanie Ferris sold 2,500 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $90.00, for a total transaction of $225,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark L. Heimbouch sold 29,676 shares of the company’s stock in a transaction on Monday, September 24th. The stock was 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. Insiders have sold 260,732 shares of company stock valued at $24,997,828 over the last quarter. Company insiders own 1.05% of the company’s stock.
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. 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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