Zacks Investment Research upgraded shares of Worldpay (NYSE:WP) from a hold rating to a buy rating in a research report released on Saturday morning, Zacks.com reports. The firm currently has $139.00 target price on the business services provider’s stock.
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. “
WP has been the subject of several other research reports. Nomura reduced their target price on shares of Worldpay to $112.00 and set a buy rating for the company in a research note on Monday, February 25th. Cantor Fitzgerald restated a buy rating and set a $105.00 price target on shares of Worldpay in a report on Tuesday, February 26th. Craig Hallum reaffirmed a buy rating and issued a $115.00 price objective (up from $95.00) on shares of Worldpay in a research report on Tuesday, February 26th. Citigroup upped their price objective on shares of Worldpay from $108.00 to $112.00 and gave the stock a buy rating in a research report on Wednesday, February 27th. Finally, Wedbush upped their price objective on shares of Worldpay from $100.00 to $110.00 and gave the stock an average rating in a research report on Wednesday, February 27th. Sixteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Worldpay currently has a consensus rating of Hold and an average price target of $111.71.
Shares of NYSE WP opened at $122.77 on Friday. The firm’s 50-day moving average is $121.36. Worldpay has a 1-year low of $70.41 and a 1-year high of $126.87. The firm has a market capitalization of $38.31 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 1.99 and a beta of 0.82. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.69.
Worldpay (NYSE:WP) last posted its earnings results on Thursday, May 2nd. The business services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.10. Worldpay had a net margin of 3.63% and a return on equity of 11.28%. The company had revenue of $970.00 million for the quarter, compared to analyst estimates of $950.37 million. During the same quarter in the prior year, the business posted $0.81 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. Sell-side analysts forecast that Worldpay will post 4.29 earnings per share for the current fiscal year.
In other Worldpay news, VP Shane Happach sold 9,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $113.34, for a total value of $1,020,060.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC lifted its stake in shares of Worldpay by 28.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 501 shares of the business services provider’s stock valued at $57,000 after buying an additional 110 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Worldpay by 1.9% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,315 shares of the business services provider’s stock valued at $717,000 after buying an additional 120 shares in the last quarter. FTB Advisors Inc. lifted its stake in Worldpay by 1.6% in the 4th quarter. FTB Advisors Inc. now owns 7,977 shares of the business services provider’s stock worth $610,000 after purchasing an additional 122 shares in the last quarter. Cornerstone Advisors Inc. lifted its stake in Worldpay by 52.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 384 shares of the business services provider’s stock worth $44,000 after purchasing an additional 132 shares in the last quarter. Finally, Alps Advisors Inc. lifted its stake in Worldpay by 2.5% in the 1st quarter. Alps Advisors Inc. now owns 5,484 shares of the business services provider’s stock worth $622,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 91.62% 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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