Zacks Investment Research reiterated their buy rating on shares of Worldpay (NYSE:WP) in a report published on Saturday morning, Zacks.com reports. Zacks Investment Research currently has a $139.00 price target on the business services provider’s stock.
According to Zacks, “Worldpay, Inc. is a payment provider to power global integrated omni-commerce, any payment, anywhere. Worldpay Inc., formerly known as Vantiv Inc., is based in LONDON. “
WP has been the topic of a number of other reports. JPMorgan Chase & Co. lowered Worldpay from an overweight rating to a neutral rating in a report on Tuesday, March 19th. Citigroup raised their price target on Worldpay from $108.00 to $112.00 and gave the company a buy rating in a report on Wednesday, February 27th. Nomura lowered their price target on Worldpay to $112.00 and set a buy rating on the stock in a report on Monday, February 25th. Mizuho lowered Worldpay from a buy rating to a neutral rating and raised their price target for the company from $108.00 to $112.00 in a report on Tuesday, March 19th. Finally, TheStreet raised Worldpay from a c rating to a b- rating in a report on Wednesday, February 27th. Fifteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $111.71.
Worldpay (NYSE:WP) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.10. The company had revenue of $970.00 million for the quarter, compared to analyst estimates of $950.37 million. Worldpay had a return on equity of 11.28% and a net margin of 3.63%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. Sell-side analysts anticipate that Worldpay will post 4.28 EPS for the current year.
In related news, VP Shane Happach sold 9,000 shares of Worldpay stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $113.34, for a total transaction of $1,020,060.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in Worldpay by 156.6% in the 1st quarter. Quadrant Capital Group LLC now owns 290 shares of the business services provider’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in Worldpay in the 4th quarter worth about $37,000. Berman Capital Advisors LLC increased its stake in Worldpay by 131.2% in the 1st quarter. Berman Capital Advisors LLC now owns 326 shares of the business services provider’s stock worth $37,000 after purchasing an additional 185 shares in the last quarter. Karp Capital Management Corp purchased a new position in Worldpay in the 4th quarter worth about $38,000. Finally, CX Institutional purchased a new position in Worldpay in the 1st quarter worth about $38,000. 91.74% of the stock is currently owned by hedge funds and other institutional investors.
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.
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