Worldpay (WP) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Worldpay (NYSE:WP) from a buy rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

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. “

A number of other research firms have also recently commented on WP. Cantor Fitzgerald restated a hold rating and issued a $119.00 price target on shares of Worldpay in a report on Friday. Craig Hallum cut shares of Worldpay from a buy rating to a hold rating in a report on Thursday, May 2nd. Royal Bank of Canada raised their price target on shares of Worldpay from $110.00 to $143.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Barclays raised their price target on shares of Worldpay from $131.00 to $136.00 and gave the stock an overweight rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets cut shares of Worldpay from an outperform rating to a market perform rating and reduced their price target for the stock from $138.00 to $112.00 in a report on Monday, March 18th. Sixteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $110.62.

Shares of NYSE WP opened at $118.93 on Friday. Worldpay has a twelve month low of $70.41 and a twelve month high of $119.43. The firm has a market cap of $36.63 billion, a P/E ratio of 32.32, a PEG ratio of 1.98 and a beta of 0.90. 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 (NYSE:WP) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. The business had revenue of $970.00 million during the quarter, compared to analysts’ expectations of $950.37 million. Worldpay had a net margin of 3.63% and a return on equity of 11.28%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the company posted $0.81 earnings per share. On average, research analysts predict that Worldpay will post 4.25 EPS for the current fiscal year.

In related news, EVP Royal Cole sold 61,257 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $96.14, for a total transaction of $5,889,247.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Shane Happach sold 9,000 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold 83,849 shares of company stock valued at $8,250,159 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Worldpay by 1.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,315 shares of the business services provider’s stock worth $717,000 after purchasing an additional 120 shares during the last quarter. FTB Advisors Inc. raised its position in Worldpay by 1.6% in the fourth quarter. FTB Advisors Inc. now owns 7,977 shares of the business services provider’s stock worth $610,000 after acquiring an additional 122 shares during the period. Cornerstone Advisors Inc. raised its position in Worldpay by 52.4% in the first quarter. Cornerstone Advisors Inc. now owns 384 shares of the business services provider’s stock worth $44,000 after acquiring an additional 132 shares during the period. Alps Advisors Inc. raised its position in Worldpay by 2.5% in the first quarter. Alps Advisors Inc. now owns 5,484 shares of the business services provider’s stock worth $622,000 after acquiring an additional 136 shares during the period. Finally, Lourd Capital LLC raised its position in Worldpay by 3.7% in the fourth quarter. Lourd Capital LLC now owns 4,019 shares of the business services provider’s stock worth $307,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 91.01% of the company’s stock.

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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