Worldpay Inc (WP) Short Interest Down 35.1% in March

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Worldpay Inc (NYSE:WP) was the target of a significant decrease in short interest during 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 trading volume of 8,581,979 shares, the days-to-cover ratio is presently 0.7 days. Approximately 2.1% of the shares of the stock are sold short.

In other Worldpay news, VP Shane Happach sold 9,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $113.34, for a total transaction of $1,020,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Royal Cole sold 61,257 shares of the stock in a transaction that occurred on 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. Insiders have sold 83,849 shares of company stock valued at $8,250,159 in the last three months. Insiders own 1.05% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund purchased a new position in Worldpay in the fourth quarter worth approximately $37,000. CWM LLC grew its position in Worldpay by 124.7% in the fourth quarter. CWM LLC now owns 501 shares of the business services provider’s stock worth $38,000 after acquiring an additional 278 shares during the period. Karp Capital Management Corp purchased a new position in Worldpay in the fourth quarter worth approximately $38,000. CX Institutional purchased a new position in Worldpay in the first quarter worth approximately $38,000. Finally, Captrust Financial Advisors grew its position in Worldpay by 399.1% in the fourth quarter. Captrust Financial Advisors now owns 559 shares of the business services provider’s stock worth $43,000 after acquiring an additional 447 shares during the period. Institutional investors own 91.29% of the company’s stock.

A number of brokerages have commented on WP. Craig Hallum reduced their target price on Worldpay from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, January 15th. Zacks Investment Research raised Worldpay from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $105.00 price target on shares of Worldpay in a report on Tuesday, February 26th. Morgan Stanley cut Worldpay from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $103.00 to $112.00 in a report on Wednesday, March 20th. Finally, Wedbush cut their price target on Worldpay from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 29th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $110.26.

Shares of Worldpay stock opened at $112.08 on Wednesday. The company has a market capitalization of $35.17 billion, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. Worldpay has a fifty-two week low of $70.41 and a fifty-two week high of $115.68. 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 (NYSE:WP) last issued its quarterly earnings data on Tuesday, February 26th. The business services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Worldpay had a return on equity of 10.80% and a net margin of 0.33%. The firm’s revenue for the quarter was up 84.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 earnings per share. Equities research analysts predict that Worldpay will post 4.25 EPS for the current year.

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Worldpay Company Profile

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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