Peregrine Capital Management LLC trimmed its holdings in Worldpay Inc (NYSE:WP) by 10.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,297 shares of the business services provider’s stock after selling 282 shares during the quarter. Peregrine Capital Management LLC’s holdings in Worldpay were worth $261,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WP. LPL Financial LLC increased its holdings in Worldpay by 24.5% in the 3rd quarter. LPL Financial LLC now owns 3,913 shares of the business services provider’s stock worth $396,000 after buying an additional 770 shares in the last quarter. Verition Fund Management LLC bought a new stake in Worldpay in the 3rd quarter worth about $983,000. Advisors Asset Management Inc. grew its stake in shares of Worldpay by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 42,868 shares of the business services provider’s stock valued at $4,341,000 after purchasing an additional 657 shares during the period. Mackenzie Financial Corp grew its stake in shares of Worldpay by 2.7% during the 3rd quarter. Mackenzie Financial Corp now owns 1,040,366 shares of the business services provider’s stock valued at $105,358,000 after purchasing an additional 27,794 shares during the period. Finally, HPM Partners LLC grew its stake in shares of Worldpay by 12.6% during the 3rd quarter. HPM Partners LLC now owns 13,247 shares of the business services provider’s stock valued at $1,342,000 after purchasing an additional 1,486 shares during the period. Institutional investors own 91.27% of the company’s stock.
Shares of NYSE:WP opened at $113.42 on Tuesday. The company has a market cap of $35.18 billion, a P/E ratio of 30.82, a P/E/G ratio of 1.88 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.75. Worldpay Inc has a 12-month low of $70.41 and a 12-month high of $115.68.
Worldpay (NYSE:WP) last announced its quarterly earnings data on Tuesday, February 26th. The business services provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Worldpay had a return on equity of 10.80% and a net margin of 0.33%. The firm’s revenue was up 84.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. On average, sell-side analysts expect that Worldpay Inc will post 4.25 earnings per share for the current year.
In related news, VP Shane Happach sold 9,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Royal Cole sold 61,257 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $96.14, for a total value of $5,889,247.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,849 shares of company stock valued at $8,250,159. 1.05% of the stock is currently owned by corporate insiders.
A number of equities research analysts have issued reports on WP shares. Guggenheim downgraded Worldpay from a “buy” rating to a “neutral” rating and set a $97.35 price target for the company. in a research note on Monday, March 4th. They noted that the move was a valuation call. KeyCorp cut their price target on Worldpay from $120.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 2nd. Craig Hallum boosted their price target on Worldpay from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Royal Bank of Canada downgraded Worldpay from a “top pick” rating to an “outperform” rating and boosted their price target for the company from $103.00 to $107.00 in a research note on Tuesday, December 18th. They noted that the move was a valuation call. Finally, Moffett Nathanson upgraded Worldpay from a “neutral” rating to a “buy” rating in a research note on Monday, January 7th. Fourteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $110.26.
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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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