TD Asset Management Inc. Cuts Holdings in Worldpay Inc (WP)
TD Asset Management Inc. cut its holdings in shares of Worldpay Inc (NYSE:WP) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 354,683 shares of the business services provider’s stock after selling 60,545 shares during the period. TD Asset Management Inc.’s holdings in Worldpay were worth $40,257,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in WP. Teachers Advisors LLC raised its position in shares of Worldpay by 3.3% in the 3rd quarter. Teachers Advisors LLC now owns 508,025 shares of the business services provider’s stock valued at $51,448,000 after acquiring an additional 15,995 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in Worldpay by 36.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 987,759 shares of the business services provider’s stock valued at $100,030,000 after purchasing an additional 265,306 shares during the last quarter. Vanguard Group Inc lifted its holdings in Worldpay by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 25,870,601 shares of the business services provider’s stock valued at $2,619,916,000 after purchasing an additional 386,174 shares during the last quarter. Handelsinvest Investeringsforvaltning lifted its holdings in Worldpay by 8.9% during the 4th quarter. Handelsinvest Investeringsforvaltning now owns 9,198 shares of the business services provider’s stock valued at $703,000 after purchasing an additional 752 shares during the last quarter. Finally, Lavaca Capital LLC acquired a new stake in Worldpay during the 4th quarter valued at $69,000. Institutional investors own 88.17% of the company’s stock.
Shares of NYSE WP traded down $1.69 during mid-day trading on Thursday, reaching $120.69. The company had a trading volume of 28,067 shares, compared to its average volume of 2,957,429. 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 Inc has a one year low of $70.41 and a one year high of $123.14. The stock has a market capitalization of $37.83 billion, a P/E ratio of 32.84, a PEG ratio of 2.00 and a beta of 0.90.
In related news, EVP Royal Cole sold 61,257 shares of the firm’s stock in a transaction 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 SEC, which is available at this hyperlink. Also, VP Shane Happach sold 9,000 shares of the firm’s stock in a transaction 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. Insiders sold 83,849 shares of company stock worth $8,250,159 in the last 90 days. 0.82% of the stock is owned by company insiders.
WP has been the subject of several research reports. Zacks Investment Research downgraded Worldpay from a “hold” rating to a “sell” rating in a report on Saturday, January 26th. Jefferies Financial Group initiated coverage on Worldpay in a report on Monday, January 28th. They set a “hold” rating and a $85.00 price target for the company. Wedbush cut their price target on Worldpay from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 29th. 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. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $105.00 price target on shares of Worldpay in a report on Tuesday, February 26th. Sixteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $111.55.
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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