Wedbush Securities Inc. Raises Holdings in Worldpay Inc (WP)

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Wedbush Securities Inc. grew its stake in Worldpay Inc (NYSE:WP) by 44.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,480 shares of the business services provider’s stock after purchasing an additional 1,689 shares during the quarter. Wedbush Securities Inc.’s holdings in Worldpay were worth $555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its holdings in Worldpay by 3.1% in the 2nd quarter. BlackRock Inc. now owns 15,786,367 shares of the business services provider’s stock worth $1,291,011,000 after purchasing an additional 474,679 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Worldpay by 0.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,445,196 shares of the business services provider’s stock worth $854,208,000 after purchasing an additional 65,400 shares in the last quarter. Flossbach Von Storch AG raised its holdings in Worldpay by 1.6% in the 3rd quarter. Flossbach Von Storch AG now owns 6,611,653 shares of the business services provider’s stock worth $669,562,000 after purchasing an additional 104,016 shares in the last quarter. FMR LLC raised its holdings in Worldpay by 32.7% in the 3rd quarter. FMR LLC now owns 6,186,896 shares of the business services provider’s stock worth $626,546,000 after purchasing an additional 1,523,722 shares in the last quarter. Finally, Third Point LLC raised its holdings in Worldpay by 5.2% in the 3rd quarter. Third Point LLC now owns 3,050,000 shares of the business services provider’s stock worth $308,874,000 after purchasing an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 88.63% of the company’s stock.

Shares of WP stock opened at $81.88 on Friday. Worldpay Inc has a one year low of $71.40 and a one year high of $103.50. The stock has a market cap of $25.91 billion, a P/E ratio of 26.41, a PEG ratio of 1.42 and a beta of 0.79. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72.

Worldpay (NYSE:WP) last announced its quarterly earnings data on Thursday, November 8th. The business services provider reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. Worldpay had a negative net margin of 3.99% and a positive return on equity of 11.66%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $0.90 EPS. Worldpay’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts forecast that Worldpay Inc will post 3.6 EPS for the current year.

WP has been the subject of several research reports. Bank of America upgraded shares of Worldpay from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $106.00 to $118.00 in a report on Wednesday, October 3rd. Mizuho upgraded shares of Worldpay from a “neutral” rating to a “buy” rating and increased their price target for the stock from $88.00 to $125.00 in a research note on Wednesday, September 12th. KeyCorp increased their price target on shares of Worldpay from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $115.00 price target on shares of Worldpay in a research note on Thursday, October 4th. Finally, Nomura increased their price target on shares of Worldpay from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. Four analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $101.03.

In other news, insider Rohinton Kalifa sold 75,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were 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 SEC, which is accessible 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 shares were 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. Corporate insiders own 1.05% of the company’s stock.

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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, 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.

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Institutional Ownership by Quarter for Worldpay (NYSE:WP)

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