Worldpay Inc (WP) Stake Lowered by Millennium Management LLC
Millennium Management LLC cut its holdings in Worldpay Inc (NYSE:WP) by 54.5% during the second quarter, HoldingsChannel.com reports. The firm owned 406,338 shares of the business services provider’s stock after selling 486,564 shares during the period. Millennium Management LLC’s holdings in Worldpay were worth $33,230,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Fort L.P. bought a new position in Worldpay during the second quarter valued at about $120,000. Robecosam AG bought a new position in Worldpay during the first quarter valued at about $123,000. SWS Partners bought a new position in Worldpay during the first quarter valued at about $128,000. Envestnet Asset Management Inc. bought a new position in Worldpay during the first quarter valued at about $134,000. Finally, Bogart Wealth LLC bought a new position in Worldpay during the second quarter valued at about $136,000. Institutional investors and hedge funds own 88.88% of the company’s stock.
Several brokerages recently issued reports on WP. Raymond James began coverage on Worldpay in a research note on Friday, June 15th. They set a “strong-buy” rating and a $98.00 price target on the stock. Piper Jaffray Companies restated a “hold” rating and set a $105.00 price target on shares of Worldpay in a research note on Thursday, August 16th. Credit Suisse Group boosted their price target on Worldpay from $87.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. Nomura boosted their price target on Worldpay from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, August 20th. Finally, Wolfe Research began coverage on Worldpay in a research note on Tuesday, July 17th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $96.86.
Worldpay (NYSE:WP) last released its quarterly earnings data on Thursday, August 9th. The business services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.09. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $978.81 million. Worldpay had a positive return on equity of 14.55% and a negative net margin of 1.72%. The firm’s quarterly revenue was up 90.0% on a year-over-year basis. analysts forecast that Worldpay Inc will post 3.64 earnings per share for the current year.
In other news, CEO Philip Jansen sold 130,908 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $92.26, for a total value of $12,077,572.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Stephanie Ferris sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $90.00, for a total value of $225,000.00. The disclosure for this sale can be found here. Insiders sold a total of 156,056 shares of company stock worth $14,524,114 over the last three months. 1.05% of the stock is owned by company insiders.
Worldpay, Inc, through its subsidiary, Vantiv Holding, LLC, provides electronic payment processing services to merchants and financial institutions in the United States. It operates through two segments, Merchant Services and Financial Institution Services. The Merchant Services segment offers merchant acquiring and payment processing services, such as authorization and settlement, customer service, chargeback and retrieval processing, and interchange management to national merchants, and regional and small-to-mid sized businesses.
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