Jag Capital Management LLC Acquires New Position in Worldpay Inc (NYSE:WP)
Jag Capital Management LLC acquired a new stake in Worldpay Inc (NYSE:WP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,755 shares of the business services provider’s stock, valued at approximately $828,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its stake in Worldpay by 156.6% in the first quarter. Quadrant Capital Group LLC now owns 290 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 177 shares during the period. Berman Capital Advisors LLC boosted its stake in Worldpay by 131.2% in the first quarter. Berman Capital Advisors LLC now owns 326 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 185 shares during the period. CX Institutional acquired a new position in Worldpay in the first quarter valued at approximately $38,000. Cornerstone Advisors Inc. boosted its stake in Worldpay by 52.4% in the first quarter. Cornerstone Advisors Inc. now owns 384 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 132 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its stake in Worldpay by 28.1% in the first quarter. Catalyst Capital Advisors LLC now owns 501 shares of the business services provider’s stock valued at $57,000 after acquiring an additional 110 shares during the period. 90.76% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the company. Zacks Investment Research upgraded SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, July 5th. Royal Bank of Canada upgraded Viacom from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $31.00 to $36.00 in a research report on Thursday, April 4th. Craig Hallum downgraded Worldpay from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Barclays upped their target price on Worldpay from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Finally, Citigroup set a $317.00 target price on Mastercard and gave the stock a “buy” rating in a research report on Friday, July 19th. Sixteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $113.25.
Worldpay (NYSE:WP) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.10. Worldpay had a return on equity of 11.28% and a net margin of 3.63%. The company had revenue of $970.00 million for the quarter, compared to analysts’ expectations of $950.37 million. During the same quarter in the prior year, the company earned $0.81 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts expect that Worldpay Inc will post 4.3 earnings per share for the current fiscal year.
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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