Royal Bank of Scotland Group PLC cut its holdings in Worldpay Inc (NYSE:WP) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,356 shares of the business services provider’s stock after selling 3,571 shares during the quarter. Worldpay accounts for approximately 1.0% of Royal Bank of Scotland Group PLC’s holdings, making the stock its 24th largest position. Royal Bank of Scotland Group PLC’s holdings in Worldpay were worth $5,302,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. TRUE Private Wealth Advisors bought a new position in Worldpay in the 3rd quarter valued at approximately $112,000. Rational Advisors LLC bought a new position in Worldpay in the 3rd quarter valued at approximately $122,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Worldpay in the 3rd quarter valued at approximately $146,000. Fort L.P. bought a new position in Worldpay in the 2nd quarter valued at approximately $120,000. Finally, Sapphire Star Partners LP bought a new position in Worldpay in the 3rd quarter valued at approximately $184,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.
In other Worldpay news, insider Rohinton Kalifa sold 75,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $100.77, for a total value of $7,557,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matt Taylor sold 22,648 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $98.09, for a total value of $2,221,542.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,324 shares of company stock worth $12,695,256. 1.05% of the stock is owned by insiders.
Worldpay (NYSE:WP) last announced its earnings results on Thursday, November 8th. The business services provider reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.02. Worldpay had a positive return on equity of 11.66% and a negative net margin of 3.99%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm earned $0.90 EPS. Worldpay’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that Worldpay Inc will post 3.6 EPS for the current year.
Several equities analysts recently issued reports on the company. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $105.00 price objective on shares of Worldpay in a research report on Thursday, August 16th. Credit Suisse Group increased their price target on Worldpay from $87.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Nomura increased their price target on Worldpay from $105.00 to $120.00 and gave the company a “buy” rating in a report on Monday, August 20th. BMO Capital Markets started coverage on Worldpay in a report on Wednesday, September 26th. They set an “outperform” rating and a $129.00 price target on the stock. Finally, Mizuho reissued a “hold” rating and set a $88.00 price target on shares of Worldpay in a report on Friday, August 10th. Four equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $101.03.
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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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