Worldpay Inc (WP) Sees Significant Decline in Short Interest

Worldpay Inc (NYSE:WP) saw a large decrease in short interest in the month of March. As of March 29th, there was short interest totalling 6,183,478 shares, a decrease of 35.1% from the March 15th total of 9,522,296 shares. Based on an average daily volume of 8,581,979 shares, the days-to-cover ratio is currently 0.7 days. Approximately 2.1% of the company’s stock are sold short.

WP has been the topic of a number of recent analyst reports. Royal Bank of Canada downgraded Worldpay from a “top pick” rating to an “outperform” rating and increased their price objective for the company from $103.00 to $107.00 in a report on Tuesday, December 18th. They noted that the move was a valuation call. KeyCorp dropped their price objective on Worldpay from $120.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 2nd. Mizuho reiterated a “buy” rating and issued a $100.00 price objective on shares of Worldpay in a report on Thursday, January 3rd. ValuEngine downgraded Worldpay from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Finally, Moffett Nathanson upgraded Worldpay from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Fourteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Worldpay presently has an average rating of “Buy” and an average target price of $110.26.

Shares of NYSE WP opened at $113.42 on Tuesday. The stock has a market capitalization of $35.18 billion, a P/E ratio of 30.82, a PEG ratio of 1.88 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.75. Worldpay has a 52-week low of $70.41 and a 52-week high of $115.68.



Worldpay (NYSE:WP) last announced its earnings results on Tuesday, February 26th. The business services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Worldpay had a return on equity of 10.80% and a net margin of 0.33%. The business’s revenue was up 84.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. As a group, research analysts forecast that Worldpay will post 4.25 earnings per share for the current fiscal year.

In other news, insider Christopher A. Thompson sold 13,592 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $98.65, for a total value of $1,340,850.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Royal Cole sold 61,257 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $96.14, for a total value of $5,889,247.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,849 shares of company stock worth $8,250,159. 1.05% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Kiwi Wealth Investments Limited Partnership acquired a new stake in Worldpay during the 4th quarter worth approximately $2,888,000. FTB Advisors Inc. lifted its position in Worldpay by 1.6% during the 4th quarter. FTB Advisors Inc. now owns 7,977 shares of the business services provider’s stock worth $610,000 after acquiring an additional 122 shares during the period. Vanguard Group Inc. lifted its position 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 worth $2,619,916,000 after acquiring an additional 386,174 shares during the period. SeaTown Holdings Pte. Ltd. lifted its position in Worldpay by 280.0% during the 4th quarter. SeaTown Holdings Pte. Ltd. now owns 190,000 shares of the business services provider’s stock worth $14,522,000 after acquiring an additional 140,000 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Worldpay by 2.1% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 485,167 shares of the business services provider’s stock worth $37,081,000 after acquiring an additional 9,814 shares during the period. 91.27% of the stock is owned by institutional investors.

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About Worldpay

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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