Suntrust Banks Inc. acquired a new position in shares of Worldpay Inc (NYSE:WP) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 12,127 shares of the business services provider’s stock, valued at approximately $996,000.
Several other institutional investors and hedge funds have also modified their holdings of WP. Quantitative Investment Management LLC purchased a new position in shares of Worldpay during the 4th quarter worth approximately $9,693,000. Macquarie Group Ltd. purchased a new position in shares of Worldpay during the 4th quarter worth approximately $8,429,000. Global X Management Co. LLC purchased a new position in shares of Worldpay during the 1st quarter worth approximately $580,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Worldpay during the 1st quarter worth approximately $367,585,000. Finally, HL Financial Services LLC purchased a new position in shares of Worldpay during the 1st quarter worth approximately $1,332,000.
Shares of Worldpay opened at $83.36 on Friday, according to MarketBeat.com. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 1.50 and a beta of 0.56. Worldpay Inc has a fifty-two week low of $59.62 and a fifty-two week high of $86.06. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.74.
Worldpay (NYSE:WP) last announced its quarterly earnings results on Thursday, May 10th. The business services provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. The company had revenue of $850.70 million for the quarter, compared to analyst estimates of $838.22 million. Worldpay had a net margin of 0.09% and a return on equity of 20.14%. Worldpay’s revenue for the quarter was up 81.0% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. sell-side analysts forecast that Worldpay Inc will post 3.59 earnings per share for the current fiscal year.
WP has been the subject of a number of recent research reports. Morgan Stanley raised their price objective on shares of Worldpay from $94.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, June 28th. TheStreet cut shares of Worldpay from a “b” rating to a “c+” rating in a research note on Monday, April 30th. Raymond James initiated coverage on shares of Worldpay in a research note on Friday, June 15th. They set a “strong-buy” rating and a $98.00 price objective for the company. Cantor Fitzgerald reissued a “buy” rating and set a $92.00 price objective on shares of Worldpay in a research note on Thursday, May 10th. Finally, Zacks Investment Research raised shares of Worldpay from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. Seven investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $85.67.
In other Worldpay news, EVP Matt Taylor sold 12,675 shares of Worldpay stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $82.90, for a total value of $1,050,757.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles Drucker sold 85,000 shares of Worldpay stock in a transaction on Monday, May 21st. The shares were sold at an average price of $82.20, for a total transaction of $6,987,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,465 shares of company stock worth $8,668,124. 1.05% of the stock is owned by company insiders.
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. 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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