California Public Employees Retirement System Reduces Position in Worldpay Inc (WP)

California Public Employees Retirement System cut its position in shares of Worldpay Inc (NYSE:WP) by 46.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 582,209 shares of the business services provider’s stock after selling 498,633 shares during the period. California Public Employees Retirement System’s holdings in Worldpay were worth $66,081,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Worldpay by 1.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,315 shares of the business services provider’s stock valued at $717,000 after purchasing an additional 120 shares during the period. FTB Advisors Inc. raised its position in Worldpay by 1.6% during the fourth quarter. FTB Advisors Inc. now owns 7,977 shares of the business services provider’s stock valued at $610,000 after purchasing an additional 122 shares during the period. Cornerstone Advisors Inc. raised its position in Worldpay by 52.4% during the first quarter. Cornerstone Advisors Inc. now owns 384 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 132 shares during the period. Alps Advisors Inc. raised its position in Worldpay by 2.5% during the first quarter. Alps Advisors Inc. now owns 5,484 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 136 shares during the period. Finally, Lourd Capital LLC raised its position in Worldpay by 3.7% during the fourth quarter. Lourd Capital LLC now owns 4,019 shares of the business services provider’s stock valued at $307,000 after purchasing an additional 144 shares during the period. 90.95% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald restated a “hold” rating and set a $119.00 price objective on shares of Worldpay in a research report on Friday, May 3rd. Zacks Investment Research downgraded Worldpay from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Craig Hallum downgraded Worldpay from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Royal Bank of Canada increased their price target on Worldpay from $110.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Barclays increased their price target on Worldpay from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Fifteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $111.44.

In other Worldpay news, EVP Royal Cole sold 61,257 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $96.14, for a total transaction of $5,889,247.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Shane Happach sold 9,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $113.34, for a total value of $1,020,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 83,849 shares of company stock worth $8,250,159 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

WP opened at $118.27 on Monday. The firm has a market cap of $36.52 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 1.93 and a beta of 0.90. Worldpay Inc has a 52 week low of $70.41 and a 52 week high of $119.43. The company has a current ratio of 0.95, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69.

Worldpay (NYSE:WP) last released its quarterly earnings data on Thursday, May 2nd. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.84 by $0.10. The company had revenue of $970.00 million for the quarter, compared to the consensus estimate of $950.37 million. Worldpay had a return on equity of 11.28% and a net margin of 3.63%. Worldpay’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. On average, equities research analysts forecast that Worldpay Inc will post 4.29 EPS for the current fiscal year.

WARNING: This story was posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://www.baseballdailydigest.com/news/2019/05/13/california-public-employees-retirement-system-reduces-position-in-worldpay-inc-wp.html.

Worldpay Company Profile

Worldpay, Inc, through its subsidiary, Worldpay Holding, LLC, provides electronic payment processing services in the United States, Europe, Asia, and Australasia. It operates in two segments, Technology Solutions, Merchant Solutions, and Issuer Solutions. The company offers merchant acquiring and payment processing services, such as authorization and settlement, customer service, chargeback and retrieval processing, and interchange management.

See Also: Marijuana Stocks Future Looks Bright

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.