Zacks Investment Research upgraded shares of Vantiv Inc. (NYSE:VNTV) from a hold rating to a buy rating in a research report report published on Thursday morning. The brokerage currently has $63.00 target price on the stock.
According to Zacks, “Vantiv, Inc. is an integrated payment processor engaged in providing advanced technology solutions for businesses and financial institutions. The Company operates in two segments: Merchant Services and Financial Institution Services. Vantiv offers acquiring and processing transactions, value-added services, merchant services and reporting for electronic payment transactions. It also provides card issuer processing, payment network processing, fraud protection, card production, prepaid program management, automated teller machine driving, network gateway and switching services. Vantiv, Inc. is headquartered in Cincinnati, Ohio. “
A number of other research firms also recently weighed in on VNTV. JPMorgan Chase & Co. raised their price target on shares of Vantiv from $60.00 to $61.00 and gave the company an overweight rating in a research note on Friday, July 29th. Susquehanna upgraded shares of Vantiv from a negative rating to a neutral rating and raised their price target for the company from $30.00 to $36.00 in a research note on Thursday, August 25th. Pacific Crest set a $62.00 price target on shares of Vantiv and gave the company a buy rating in a research note on Thursday, September 15th. Nomura restated a buy rating and issued a $63.00 price target (up from $62.00) on shares of Vantiv in a research note on Tuesday, August 2nd. Finally, Wedbush initiated coverage on shares of Vantiv in a research report on Thursday, September 8th. They set a neutral rating and a $60.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $56.93.
Shares of Vantiv (NYSE:VNTV) opened at 56.70 on Thursday. The firm has a 50-day moving average of $54.64 and a 200 day moving average of $54.84. Vantiv has a 52 week low of $42.01 and a 52 week high of $59.62. The company has a market cap of $8.83 billion, a P/E ratio of 47.05 and a beta of 0.59.
Vantiv (NYSE:VNTV) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Vantiv had a net margin of 5.67% and a return on equity of 36.56%. The company had revenue of $891 million for the quarter, compared to the consensus estimate of $465.66 million. During the same period last year, the company posted $0.56 EPS. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities analysts anticipate that Vantiv will post $2.66 earnings per share for the current fiscal year.
In other Vantiv news, CEO Charles Drucker sold 3,800 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $57.00, for a total transaction of $216,600.00. Following the completion of the sale, the chief executive officer now owns 555,515 shares in the company, valued at approximately $31,664,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matt Taylor sold 162,576 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $59.05, for a total transaction of $9,600,112.80. Following the sale, the insider now owns 70,435 shares of the company’s stock, valued at approximately $4,159,186.75. The disclosure for this sale can be found here. Company insiders own 1.32% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Artisan Partners Limited Partnership increased its position in Vantiv by 79.5% in the second quarter. Artisan Partners Limited Partnership now owns 2,980,178 shares of the company’s stock worth $168,678,000 after buying an additional 1,320,324 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Vantiv by 18,604.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,049,117 shares of the company’s stock worth $59,382,000 after buying an additional 1,043,508 shares in the last quarter. JPMorgan Chase & Co. increased its position in Vantiv by 6.2% in the second quarter. JPMorgan Chase & Co. now owns 10,590,298 shares of the company’s stock worth $599,412,000 after buying an additional 614,832 shares in the last quarter. Lazard Asset Management LLC increased its position in Vantiv by 95.9% in the first quarter. Lazard Asset Management LLC now owns 1,144,430 shares of the company’s stock worth $61,661,000 after buying an additional 560,355 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Vantiv during the first quarter worth about $26,940,000. 80.57% of the stock is currently owned by hedge funds and other institutional investors.
Vantiv, Inc (Vantiv) is a holding company. The Company conducts its operations through its subsidiary, Vantiv Holding, LLC (Vantiv Holding). The Company is a payment processor, merchant acquirer and personal identification number (PIN) debit acquirer. The Company operates through two segments: Merchant Services and Financial Institution Services.
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