Tocqueville Asset Management L.P. Grows Holdings in Worldpay Inc (WP)

Tocqueville Asset Management L.P. raised its position in Worldpay Inc (NYSE:WP) by 354.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,315 shares of the business services provider’s stock after acquiring an additional 43,155 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Worldpay were worth $5,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors purchased a new position in shares of Worldpay in the 3rd quarter valued at about $112,000. Fort L.P. purchased a new position in shares of Worldpay in the 2nd quarter valued at about $120,000. Rational Advisors LLC purchased a new position in shares of Worldpay in the 3rd quarter valued at about $122,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Worldpay in the 3rd quarter valued at about $146,000. Finally, Sapphire Star Partners LP purchased a new position in shares of Worldpay in the 3rd quarter valued at about $184,000. 88.63% of the stock is owned by institutional investors.

Shares of NYSE WP opened at $81.88 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.97. Worldpay Inc has a twelve month low of $71.40 and a twelve month high of $103.50. The company has a market capitalization of $25.91 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 1.42 and a beta of 0.79.

Worldpay (NYSE:WP) last issued its quarterly earnings data on Thursday, November 8th. The business services provider reported $1.05 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Worldpay Inc will post 3.6 earnings per share for the current year.

In other Worldpay news, COO Mark L. Heimbouch sold 29,676 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $98.26, for a total value of $2,915,963.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rohinton Kalifa sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $100.77, for a total value of $7,557,750.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.

Several equities analysts have recently issued reports on the company. Stephens reiterated a “buy” rating and issued a $97.00 price objective on shares of Worldpay in a research note on Sunday, August 12th. Raymond James reiterated a “buy” rating and issued a $111.00 price objective on shares of Worldpay in a research note on Wednesday, August 15th. Nomura reiterated a “buy” rating and issued a $105.00 price objective (up previously from $93.00) on shares of Worldpay in a research note on Sunday, August 12th. Cantor Fitzgerald lifted their price objective on Worldpay from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $105.00 target price on shares of Worldpay in a research note on Thursday, August 16th. Four equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. Worldpay presently has a consensus rating of “Buy” and an average target price of $101.03.

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Worldpay Profile

Worldpay, Inc, through its subsidiary, Vantiv Holding, LLC, provides electronic payment processing services to merchants and financial institutions in the United States, Europe, and Asia. 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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