Tealwood Asset Management Inc. cut its holdings in shares of Worldpay Inc (NYSE:WP) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,918 shares of the business services provider’s stock after selling 1,654 shares during the period. Worldpay accounts for approximately 1.4% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Tealwood Asset Management Inc.’s holdings in Worldpay were worth $3,421,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Artisan Partners Limited Partnership grew its holdings in shares of Worldpay by 20.5% during the first quarter. Artisan Partners Limited Partnership now owns 8,686,793 shares of the business services provider’s stock valued at $985,951,000 after buying an additional 1,474,881 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Worldpay during the first quarter valued at $166,143,000. CNH Partners LLC purchased a new stake in shares of Worldpay during the first quarter valued at $144,871,000. Assenagon Asset Management S.A. grew its holdings in shares of Worldpay by 11,396.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,080,701 shares of the business services provider’s stock valued at $122,660,000 after buying an additional 1,071,301 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Worldpay during the first quarter valued at $60,216,000. 90.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of WP stock remained flat at $$135.00 during mid-day trading on Thursday. The firm has a 50-day moving average price of $133.07 and a 200-day moving average price of $115.76. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. Worldpay Inc has a 12-month low of $70.41 and a 12-month high of $138.22. The company has a market capitalization of $42.01 billion, a PE ratio of 36.68, a P/E/G ratio of 2.26 and a beta of 0.75.
WP has been the topic of a number of research analyst reports. Craig Hallum lowered shares of Worldpay from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reissued a “hold” rating and set a $119.00 price objective on shares of Worldpay in a report on Friday, May 3rd. Citigroup set a $152.00 price target on shares of Worldpay and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Zacks Investment Research lowered shares of Worldpay from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $114.97.
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.
Further Reading: Return on Equity (ROE)
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