State of Wisconsin Investment Board Increases Position in Vantiv, Inc. (VNTV)
State of Wisconsin Investment Board boosted its stake in shares of Vantiv, Inc. (NYSE:VNTV) by 17.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,781 shares of the business services provider’s stock after buying an additional 25,897 shares during the period. State of Wisconsin Investment Board owned approximately 0.11% of Vantiv worth $11,197,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of VNTV. HighTower Advisors LLC bought a new position in Vantiv during the first quarter valued at $230,000. NN Investment Partners Holdings N.V. raised its position in Vantiv by 0.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 66,622 shares of the business services provider’s stock valued at $4,219,000 after buying an additional 599 shares during the last quarter. Bank of Montreal Can raised its position in Vantiv by 207.2% in the first quarter. Bank of Montreal Can now owns 64,023 shares of the business services provider’s stock valued at $4,105,000 after buying an additional 43,185 shares during the last quarter. Origin Asset Management LLP bought a new position in Vantiv during the first quarter valued at $8,374,000. Finally, Teachers Advisors LLC raised its position in Vantiv by 1.8% in the first quarter. Teachers Advisors LLC now owns 412,495 shares of the business services provider’s stock valued at $26,449,000 after buying an additional 7,224 shares during the last quarter. 82.85% of the stock is currently owned by institutional investors and hedge funds.
Vantiv, Inc. (NYSE:VNTV) opened at 72.38 on Thursday. The company’s 50 day moving average price is $65.84 and its 200-day moving average price is $64.04. Vantiv, Inc. has a 12-month low of $52.50 and a 12-month high of $72.68. The company has a market capitalization of $11.67 billion, a P/E ratio of 61.18 and a beta of 0.61.
Vantiv (NYSE:VNTV) last released its earnings results on Wednesday, August 9th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Vantiv had a net margin of 5.58% and a return on equity of 33.54%. The firm had revenue of $530 million during the quarter, compared to analyst estimates of $525.12 million. During the same period last year, the business earned $0.70 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. Equities analysts forecast that Vantiv, Inc. will post $3.35 earnings per share for the current fiscal year.
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Several research firms have weighed in on VNTV. Stifel Nicolaus raised Vantiv from a “hold” rating to a “buy” rating and increased their target price for the company from $63.00 to $85.00 in a research note on Thursday, August 10th. Instinet reissued a “buy” rating and issued a $85.00 target price (up previously from $75.00) on shares of Vantiv in a research note on Monday, August 14th. Oppenheimer Holdings, Inc. increased their target price on Vantiv from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, August 16th. Zacks Investment Research lowered Vantiv from a “buy” rating to a “hold” rating in a research note on Saturday, May 27th. Finally, BidaskClub raised Vantiv from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $72.04.
In related news, insider Matt Taylor sold 11,622 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $63.14, for a total value of $733,813.08. Following the completion of the transaction, the insider now directly owns 64,269 shares in the company, valued at approximately $4,057,944.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.27% of the stock is currently owned by company insiders.
Vantiv, Inc is a holding company. The Company conducts its operations through its subsidiary, Vantiv Holding, LLC. The Company is a payment processor. The Company’s segments include Merchant Services and Financial Institution Services. The Company offers a range of payment processing services that enable its clients to meet their payment processing needs through a single provider.
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