Worldpay (WP) PT Raised to $99.00 at Credit Suisse Group
Worldpay (NYSE:WP) had its price objective hoisted by equities research analysts at Credit Suisse Group from $87.00 to $99.00 in a research note issued on Friday. The firm presently has an “outperform” rating on the business services provider’s stock. Credit Suisse Group’s price objective points to a potential upside of 7.45% from the stock’s current price.
WP has been the subject of several other research reports. Raymond James assumed coverage on Worldpay in a research note on Friday, June 15th. They set a “strong-buy” rating and a $98.00 target price for the company. Wolfe Research began coverage on Worldpay in a research report on Tuesday, July 17th. They issued an “outperform” rating for the company. Mizuho reiterated a “hold” rating and issued a $88.00 price objective on shares of Worldpay in a research report on Friday. Cantor Fitzgerald raised their price objective on Worldpay from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Cowen reiterated a “buy” rating on shares of Worldpay in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $89.87.
Shares of NYSE:WP opened at $92.14 on Friday. Worldpay has a twelve month low of $67.71 and a twelve month high of $92.47. The company has a market cap of $16.11 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 1.65 and a beta of 0.63. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.74.
In related news, insider Charles Drucker sold 85,000 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $82.20, for a total transaction of $6,987,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephanie Ferris sold 7,790 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $80.92, for a total value of $630,366.80. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Pendal Group Ltd bought a new position in shares of Worldpay during the 1st quarter worth approximately $108,000. Robecosam AG bought a new position in shares of Worldpay during the 1st quarter worth approximately $123,000. SWS Partners bought a new position in shares of Worldpay during the 1st quarter worth approximately $128,000. Envestnet Asset Management Inc. bought a new position in shares of Worldpay during the 1st quarter worth approximately $134,000. Finally, Bogart Wealth LLC bought a new position in shares of Worldpay during the 2nd quarter worth approximately $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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