Morgan Stanley Lowers Worldpay (WP) to Equal Weight

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Worldpay (NYSE:WP) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, The Fly reports.

A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Worldpay from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. Cowen cut shares of Worldpay from an “outperform” rating to a “market perform” rating in a report on Tuesday. Deutsche Bank boosted their target price on shares of Worldpay from $100.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Mizuho cut shares of Worldpay from a “buy” rating to a “neutral” rating and boosted their target price for the company from $108.00 to $112.00 in a report on Tuesday. Finally, Robert W. Baird boosted their target price on shares of Worldpay from $102.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $106.65.

Shares of NYSE WP opened at $107.16 on Wednesday. The firm has a market capitalization of $33.71 billion, a P/E ratio of 29.12, a PEG ratio of 1.80 and a beta of 0.88. Worldpay has a 52 week low of $70.41 and a 52 week high of $112.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.75.

Worldpay (NYSE:WP) last released its quarterly earnings results on Tuesday, February 26th. The business services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Worldpay had a net margin of 0.33% and a return on equity of 10.80%. The firm’s revenue for the quarter was up 84.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 earnings per share. On average, analysts anticipate that Worldpay will post 4.25 earnings per share for the current fiscal year.

In related news, EVP Royal Cole sold 61,257 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $96.14, for a total value of $5,889,247.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher A. Thompson sold 13,592 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $98.65, for a total transaction of $1,340,850.80. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in WP. Janney Montgomery Scott LLC increased its holdings in Worldpay by 35.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 6,550 shares of the business services provider’s stock worth $663,000 after acquiring an additional 1,723 shares in the last quarter. Piedmont Investment Advisors Inc. increased its holdings in Worldpay by 1,859.6% in the 3rd quarter. Piedmont Investment Advisors Inc. now owns 2,038 shares of the business services provider’s stock worth $206,000 after acquiring an additional 1,934 shares in the last quarter. Rational Advisors LLC purchased a new stake in Worldpay in the 3rd quarter worth approximately $122,000. Crossmark Global Holdings Inc. increased its holdings in Worldpay by 19.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,059 shares of the business services provider’s stock worth $411,000 after acquiring an additional 660 shares in the last quarter. Finally, Twin Tree Management LP boosted its stake in Worldpay by 688.6% in the 3rd quarter. Twin Tree Management LP now owns 8,675 shares of the business services provider’s stock worth $879,000 after purchasing an additional 7,575 shares during the period. 90.17% of the stock is owned by institutional investors.

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, Europe, and Asia. It operates in 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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