Worldpay (WP) Given New $103.00 Price Target at Citigroup
WP has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their price objective on Worldpay from $94.00 to $100.00 and gave the company an overweight rating in a research report on Friday. Morgan Stanley increased their price objective on Worldpay from $94.00 to $95.00 and gave the company an overweight rating in a research report on Thursday, June 28th. TheStreet downgraded Worldpay from a b rating to a c+ rating in a research report on Monday, April 30th. Raymond James started coverage on Worldpay in a research report on Friday, June 15th. They set a strong-buy rating and a $98.00 price objective for the company. Finally, Zacks Investment Research downgraded Worldpay from a hold rating to a sell rating in a research report on Sunday, July 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $90.13.
Shares of NYSE WP opened at $92.05 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 1.68 and a beta of 0.63. Worldpay has a 1 year low of $67.71 and a 1 year high of $92.82.
In other news, CFO Stephanie Ferris sold 2,500 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $90.00, for a total value of $225,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles Drucker sold 85,000 shares of the stock in a transaction on Monday, May 21st. The shares were sold at an average price of $82.20, for a total value of $6,987,000.00. The disclosure for this sale can be found here. Insiders sold 95,290 shares of company stock valued at $7,842,367 in the last 90 days. Corporate insiders own 1.05% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pendal Group Ltd purchased a new stake in shares of Worldpay during the first quarter worth $108,000. Robecosam AG purchased a new stake in shares of Worldpay during the first quarter worth $123,000. SWS Partners purchased a new stake in shares of Worldpay during the first quarter worth $128,000. Envestnet Asset Management Inc. purchased a new stake in shares of Worldpay during the first quarter worth $134,000. Finally, Bogart Wealth LLC purchased a new stake in shares of Worldpay during the second quarter worth $136,000.
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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