Bessemer Group Inc. Cuts Stake in Worldpay Inc (WP)

Bessemer Group Inc. decreased its stake in shares of Worldpay Inc (NYSE:WP) by 20.7% during the third quarter, HoldingsChannel reports. The firm owned 1,942,758 shares of the business services provider’s stock after selling 507,783 shares during the quarter. Bessemer Group Inc.’s holdings in Worldpay were worth $196,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Worldpay by 3.1% during the second quarter. BlackRock Inc. now owns 15,786,367 shares of the business services provider’s stock worth $1,291,011,000 after acquiring an additional 474,679 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Worldpay by 0.6% during the second quarter. Canada Pension Plan Investment Board now owns 10,445,196 shares of the business services provider’s stock worth $854,208,000 after acquiring an additional 65,400 shares in the last quarter. Flossbach Von Storch AG boosted its stake in Worldpay by 1.6% during the third quarter. Flossbach Von Storch AG now owns 6,611,653 shares of the business services provider’s stock worth $669,562,000 after acquiring an additional 104,016 shares in the last quarter. FMR LLC boosted its stake in Worldpay by 21.3% during the second quarter. FMR LLC now owns 4,663,174 shares of the business services provider’s stock worth $381,356,000 after acquiring an additional 818,712 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Worldpay by 1.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,774,136 shares of the business services provider’s stock worth $280,936,000 after acquiring an additional 34,849 shares in the last quarter. 89.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Worldpay stock opened at $90.11 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $29.35 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.59 and a beta of 0.84. Worldpay Inc has a 52-week low of $68.45 and a 52-week high of $103.50.

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 consensus estimate of $1.03 by $0.02. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Worldpay had a negative net margin of 1.72% and a positive return on equity of 14.55%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 earnings per share. As a group, research analysts predict that Worldpay Inc will post 3.64 EPS for the current year.

In other news, EVP Matt Taylor sold 22,648 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $98.09, for a total transaction of $2,221,542.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Philip Jansen sold 130,908 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $92.26, for a total transaction of $12,077,572.08. The disclosure for this sale can be found here. Insiders sold 258,232 shares of company stock valued at $24,772,828 over the last ninety days. Corporate insiders own 1.05% of the company’s stock.

Several research firms recently commented on WP. KeyCorp boosted their price objective on shares of Worldpay from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Cantor Fitzgerald boosted their price objective on shares of Worldpay from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Piper Jaffray Companies reissued a “hold” rating and set a $105.00 price objective on shares of Worldpay in a research note on Thursday, August 16th. Robert W. Baird reissued a “buy” rating and set a $102.00 price objective on shares of Worldpay in a research note on Friday, August 10th. Finally, Citigroup boosted their price objective on shares of Worldpay from $94.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $100.59.

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About Worldpay

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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Institutional Ownership by Quarter for Worldpay (NYSE:WP)

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