Swiss National Bank Cuts Holdings in Worldpay Inc (WP)

Swiss National Bank lessened its stake in Worldpay Inc (NYSE:WP) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,185,818 shares of the business services provider’s stock after selling 40,400 shares during the period. Swiss National Bank owned approximately 0.38% of Worldpay worth $120,088,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors bought a new stake in shares of Worldpay in the 3rd quarter worth approximately $112,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Worldpay in the 3rd quarter worth approximately $146,000. Fort L.P. bought a new stake in shares of Worldpay in the 2nd quarter worth approximately $120,000. Cerebellum GP LLC bought a new stake in shares of Worldpay in the 3rd quarter worth approximately $196,000. Finally, Concorde Asset Management LLC bought a new stake in shares of Worldpay in the 3rd quarter worth approximately $203,000. 89.60% of the stock is owned by institutional investors and hedge funds.

NYSE:WP opened at $82.03 on Friday. Worldpay Inc has a 52 week low of $69.63 and a 52 week high of $103.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $25.81 billion, a P/E ratio of 23.43, a PEG ratio of 1.42 and a beta of 0.84.

Worldpay (NYSE:WP) last posted its quarterly earnings results on Thursday, November 8th. The business services provider reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. Worldpay had a negative net margin of 3.99% and a positive return on equity of 11.66%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted $0.90 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts expect that Worldpay Inc will post 3.6 EPS for the current fiscal year.

In other Worldpay news, EVP Matt Taylor sold 22,648 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $98.09, for a total value of $2,221,542.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark L. Heimbouch sold 29,676 shares of the company’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $98.26, for a total transaction of $2,915,963.76. The disclosure for this sale can be found here. Insiders sold a total of 127,324 shares of company stock valued at $12,695,256 over the last 90 days. Company insiders own 1.05% of the company’s stock.

A number of brokerages have recently weighed in on WP. Keefe, Bruyette & Woods restated a “buy” rating and issued a $115.00 price objective on shares of Worldpay in a report on Thursday, October 4th. Bank of America upgraded shares of Worldpay from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $106.00 to $118.00 in a report on Wednesday, October 3rd. BMO Capital Markets began coverage on shares of Worldpay in a report on Wednesday, September 26th. They issued an “outperform” rating and a $129.00 price objective for the company. Wedbush boosted their price objective on shares of Worldpay from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, October 5th. Finally, KeyCorp boosted their price objective on shares of Worldpay from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, September 5th. Four equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $101.03.

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About Worldpay

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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Institutional Ownership by Quarter for Worldpay (NYSE:WP)

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