Worldpay (WP) Lowered to Hold at Zacks Investment Research

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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 Wednesday, 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. “

Other equities analysts have also recently issued research reports about the company. Wedbush raised their price target on Worldpay from $100.00 to $110.00 and gave the company an average rating in a report on Wednesday, February 27th. TheStreet upgraded Worldpay from a c rating to a b- rating in a report on Wednesday, February 27th. Craig Hallum restated a buy rating and set a $115.00 price target (up previously from $95.00) on shares of Worldpay in a report on Tuesday, February 26th. Cantor Fitzgerald restated a buy rating and set a $105.00 price target on shares of Worldpay in a report on Tuesday, February 26th. Finally, Nomura cut their price target on Worldpay to $112.00 and set a buy rating for the company in a report on Monday, February 25th. Sixteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $111.55.

Shares of WP opened at $120.01 on Wednesday. The company has a market cap of $37.35 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. Worldpay has a 12-month low of $70.41 and a 12-month high of $123.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 0.95.

Worldpay (NYSE:WP) last issued its earnings results on Thursday, May 2nd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.10. The company had revenue of $970.00 million for the quarter, compared to the consensus estimate of $950.37 million. Worldpay had a return on equity of 11.28% and a net margin of 3.63%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. On average, equities analysts expect that Worldpay will post 4.28 EPS for the current year.

In other news, EVP Royal Cole sold 61,257 shares of Worldpay 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shane Happach sold 9,000 shares of Worldpay 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 disclosure for this sale can be found here. In the last quarter, insiders sold 83,849 shares of company stock valued at $8,250,159. Company insiders own 0.82% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Lunia Capital LP boosted its holdings in Worldpay by 6,149.3% during the 4th quarter. Lunia Capital LP now owns 15,225,391 shares of the business services provider’s stock valued at $15,225,000 after acquiring an additional 14,981,757 shares during the period. Norges Bank purchased a new position in Worldpay during the 4th quarter valued at $217,819,000. Oregon Public Employees Retirement Fund purchased a new position in Worldpay during the 4th quarter valued at $37,000. Artisan Partners Limited Partnership boosted its holdings in Worldpay by 20.5% during the 1st quarter. Artisan Partners Limited Partnership now owns 8,686,793 shares of the business services provider’s stock valued at $985,951,000 after acquiring an additional 1,474,881 shares during the period. Finally, Alpine Associates Management Inc. purchased a new position in Worldpay during the 1st quarter valued at $166,143,000. Hedge funds and other institutional investors own 88.17% of the company’s stock.

About Worldpay

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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