WRCDF - Wirecard AG

Other OTC - Other OTC Delayed Price. Currency in USD
126.70
-0.34 (-0.27%)
At close: 2:28PM EDT
Stock chart is not supported by your current browser
Previous Close127.04
Open129.75
BidN/A x N/A
AskN/A x N/A
Day's Range126.70 - 130.71
52 Week Range101.00 - 193.76
Volume1,716
Avg. Volume635
Market Cap15.94B
Beta (3Y Monthly)0.84
PE Ratio (TTM)N/A
EPS (TTM)3.21
Earnings DateN/A
Forward Dividend & Yield0.23 (0.18%)
Ex-Dividend Date2019-06-19
1y Target EstN/A
Trade prices are not sourced from all markets
  • ACCESSWIRE

    SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Wirecard AG - WCAGY- WRCDF

    Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. The investigation concerns whether Wirecard and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. On January 30, 2019, The Financial Times reported that a senior executive at the Company was suspected of using forged contracts in connection with several suspicious transactions.

  • Wirecard Shares Jump After Firm Hires KPMG for Independent Audit
    Bloomberg

    Wirecard Shares Jump After Firm Hires KPMG for Independent Audit

    (Bloomberg) -- Wirecard AG gained as much as 6.6% in Germany after saying it had commissioned KPMG to conduct an independent audit of the digital payments company, its latest effort to calm investors rattled by reports of accounting irregularities.The audit firm will have “unrestricted access to all information on all levels of the group,” Wirecard said in a statement Monday. KPMG’s review of accusations raised by the Financial Times will begin immediately and will be presented in “due course.”“We have complete confidence in the audit procedures performed to date and their results,” Chairman Wulf Matthias said in the statement. “We assume this renewed independent review will lead to a final end to all further speculation.”Shares of Wirecard were up 6.1% to 118.45 euros at 10:22 a.m. in Frankfurt on Monday after earlier gaining as much as 6.6%, the biggest intraday jump since April.Wirecard’s shares tumbled last week after a FT report over questionable accounting methods, reviving concerns from earlier this year. The company dismissed the claims saying that the figures had been audited by Ernst & Young and that the names mentioned by the FT as having questionable links to the company referred to internal labels for customer clusters.Wirecard then on Friday tried to regain confidence by announcing plans to buy back as much as 200 million euros ($223 million) in stock.Why Germany’s Wirecard Is No Stranger to Controversy: QuickTakeThe audit is expected to bring “final clarity to the accusations raised by the FT,” Knut Woller, an analyst at Baader Bank who rates the stock ‘buy,’ said in an emailed note to clients.KPMG is the latest accounting firm called in to weigh in on the controversy. Wirecard had asked E&Y to audit its yearly report, and hired Singapore law firm Rajah & Tann for an in-depth analysis of its accounting practices after the FT first reported on potential misdeeds in late January. E&Y signed off on the 2018 report, and while Rajah & Tann acknowledged some accounting oversights and potential criminal liability for some employees in Singapore, it didn’t find criminal activity linked to Wirecard’s headquarters.Rather than reporting to Chief Executive Officer Markus Braun or other day-to-day executives, KPMG is “obliged only to the supervisory board” and will be supported by Thomas Eichelmann, head of the body’s audit committee, Wirecard said.“I am convinced that confidence in our successful and strongly growing business will be strengthened as a result of this independent audit,” Braun said in the statement.To contact the reporters on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net;Chris Reiter in Berlin at creiter2@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, ;Chad Thomas at cthomas16@bloomberg.net, Iain Rogers, Amy ThomsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    Opening Quote: Smith & Nephew CEO to depart after less than 18 months

    Smith & Nephew’s soon-to-be-former chief executive seems to think so. was hired at a salary “multiples” less than in his former role as chief executive of US diagnostics group Alere. The Sri-Lankan born, Australian-raised Smith & Nephew CEO is out less than 18 months into the job.

  • PR Newswire

    Wirecard Commissions Independent Audit

    ASCHHEIM, Germany , Oct. 21, 2019 /PRNewswire/ -- The Management Board and the Supervisory Board of Wirecard AG has decided to commission the audit firm KPMG to conduct an additional independent audit ...

  • Financial Times

    Wirecard appoints KPMG for independent review of accounting

    German payments company Wirecard has hired big four accountant KPMG to review questions over its accounting practices that were raised by whistleblowers and reported by the Financial Times. The chairman of Wirecard’s audit committee on the supervisory board, Thomas Eichelmann — a former chief financial officer of Deutsche Börse — would “support” the audit, the company said.

  • Wirecard hires KPMG for independent audit after FT allegations
    Reuters

    Wirecard hires KPMG for independent audit after FT allegations

    FRANKFURT/BERLIN (Reuters) - German payments company Wirecard has hired KPMG to conduct an independent audit to address allegations by the Financial Times that its finance team had sought to inflate reported sales and profits, it said on Monday. It has rejected the newspaper's allegations, based on internal spreadsheets and correspondence, that Wirecard's senior finance team had sought to inflate reported sales and profits at its businesses in Dubai and Ireland. The allegations are old, we have investigated them and found them to be completely baseless," CEO Markus Braun told Reuters on Monday.

  • Reuters

    REFILE-European shares nudge higher as Brexit tussle continues

    European shares opened slightly higher on Monday, indicating that investors remained hopeful that Britain would be able to avoid a disorderly exit from the European Union, even as British lawmakers delayed a crucial vote on the withdrawal agreement. The British government insisted on Sunday the country will leave the European Union on Oct. 31 despite a letter that Prime Minister Boris Johnson was forced by parliament to send to the bloc, requesting for a Brexit delay. The pan-European STOXX 600 index rose 0.2% after finishing nearly flat last week, hurt by some weak quarterly results and conflicting Brexit headlines.

  • Wirecard commissions independent audit
    MarketWatch

    Wirecard commissions independent audit

    The German company said Monday that the audit will be carried out by KPMG and will start immediately in order to “clarify fully and independently all accusations” raised by the FT.

  • $16 Billion Wirecard Has Some Byzantine Accounting
    Bloomberg

    $16 Billion Wirecard Has Some Byzantine Accounting

    (Bloomberg Opinion) -- Wirecard AG is treating its investors shabbily. The German fintech group has failed to respond convincingly to this week’s allegations that some of its recent financial reporting may be incorrect. Instead, it has aggravated the situation with communication that doesn’t befit a 14 billion euro ($16 billion) member of the blue-chip DAX Index.Revenue and profit for 2016 in particular is open to question, the Financial Times claimed on Tuesday. The newspaper said Wirecard emails and spreadsheets depicted a Dubai-based partner handling transactions for what looked like 34 key Wirecard clients, equivalent to one-quarter of the entire company’s reported sales and half its Ebitda for that financial year.Yet many of those clients had ceased trading or could not confirm their relationship with the Dubai affiliate, the FT claimed, putting the credibility of the partner’s financial contribution in doubt.Wirecard swiftly denied “these allegations of impropriety” and called the lengthy article a compilation of several false and misleading claims. But it didn’t say which particular allegations it was referring to. Unconvinced by this rebuttal, the market pushed Wirecard shares down 13%. The company’s follow-up statement on Wednesday has not reversed the decline.The German fintech says that the 34 company names mentioned by the FT referred to “labels of customer clusters,” each cluster containing hundreds of individual genuine merchants. So it’s arguing that there’s no problem that they don’t exist as corporate entities, they’re just words. But if Wirecard gathers clients into groups named after closed companies, that’s a weak answer to the market’s concerns. This is a bizarre way to approach internal reporting in any financial firm, let along one of this size and complexity.Wirecard also used 2018 stats to set out its high reliance on third-party partners outside its home market, saying such arrangements were standard for the industry. That doesn’t answer allegations that are focused on 2016 revenue and profit.There has been no specific statement that the source material acquired by the FT is inaccurate. Investors can only conclude that Wirecard therefore disagrees with the paper’s interpretation. Maybe the material is incomplete. Still, it’s in the public domain now. If Wirecard can help dispel the doubts around its numbers by disclosing more parts of its internal financial reporting jigsaw, it should do so. It has lost nearly 3 billion euros of market value this week.Wirecard’s recently issued bond is trading at 88% of face value. Equity investors have suffered repeated bouts of volatility in the stock and the shares were falling again on Friday. This is a crisis. Wirecard’s chief executive officer and chief financial officer need to recognize it as such, come out of the bunker and offer line-by-line answers.To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Financial Times

    Wirecard chairman dismisses calls for independent audit

    Wirecard’s chairman Wulf Matthias has dismissed calls for an independent forensic audit of the German fintech group’s accounts, at the end of a week which saw its market value drop by more than a fifth. Mr Matthias said the group’s accountants appeared to be acting properly. “Prima facie, EY is evaluating the matters sufficiently,” Mr Matthias told the Financial Times. The 74-year-old — a former senior banker at Credit Suisse in Germany and other lenders — called the public discussion about Wirecard’s potential accounting issues “an annoyance”, adding that “we have endless stories [about Wirecard], three a day.

  • Financial Times

    Wirecard: the unanswered questions

    The FT had published internal correspondence which appeared to show a concerted effort to inflate sales and profits for subsidiaries in Dubai and Dublin, and shares in the Dax 30 group tumbled. Wirecard said it would not provide answers before the end of this week.

  • Financial Times

    A selection of the FT’s biggest stories and best reads every Friday

    Syria, Hong Kong protests, racist football fans and a Brexit deal that didn’t exist when I started this newsletter: fortunately, I’ve had to write none of it. Brussels is happy, Boris Johnson is happy.

  • PR Newswire

    Wirecard Powers New Swiss Post China Cross-border e-commerce Marketplace

    ASCHHEIM, Germany, Oct. 17, 2019 /PRNewswire/ -- Wirecard, the global innovation leader for digital financial technology, is providing the payment solution for Swiss Post's "Your Gateway to China" service. Thanks to the "Your Gateway to China" service, Swiss retailers can easily offer their products directly to Chinese consumers through major virtual marketplaces.

  • Business Wire

    Bragar Eagel & Squire, P.C. is Investigating Wirecard AG (Other OTC: WCAGY, WRCDF) on Behalf of Wirecard Stockholders and Encourages Qiagen Investors to Contact the Firm

    Bragar Eagel & Squire, P.C. is investigating potential claims against Wirecard AG (Other OTC: WCAGY, WRCDF) on behalf of Wirecard stockholders. On October 15, 2019, Financial Times reported that internal documents from the Wirecard “appear to indicate a concerted effort to fraudulently inflate sales and profits” in locations in Dubai and Ireland, including "strong indications" that many of the hundreds of millions of dollars in payments processed by one Dubai-based partner company in 2016 and 2017 never took place.

  • GlobeNewswire

    SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Wirecard AG – WCAGY- WRCDF

    WRCDF).   Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. On January 30, 2019, The Financial Times reported that a senior executive at the Company was suspected of using forged contracts in connection with several suspicious transactions.  The article cited “[a]n internal presentation [that] described potentially fraudulent money flows at Wirecard,” relating to “transactions [that] were ordered by Edo Kurniawan, who is responsible for the payment group’s accounting in the Asia-Pacific region.”  Following this news, Wirecard’s stock price fell sharply, damaging investors.

  • Wirecard AG (ETR:WDI) Earns Among The Best Returns In Its Industry
    Simply Wall St.

    Wirecard AG (ETR:WDI) Earns Among The Best Returns In Its Industry

    Today we'll look at Wirecard AG (ETR:WDI) and reflect on its potential as an investment. In particular, we'll consider...

  • Financial Times

    FirstFT: Today’s top stories

    into Donald Trump, as top officials including Mike Pence told the House committees leading the Ukraine probe that they would not provide information to investigators. Through a White House lawyer, the vice-president told the Democratically controlled committees that the impeachment inquiry was not valid because the full House of Representatives had not voted to open a probe.

  • Financial Times

    Wirecard faces calls from analysts for information on its accounting

    The stock ended Wednesday little changed, at €122.50 after Wirecard issued a statement that rejected allegations of impropriety, provided some details of business conducted through Dubai, and said that conclusions drawn by the FT regarding the documents were “not correct”. The FT has published internal financial reports that appear to show that Wirecard routed billions of euros in payments for 34 clients through a Dubai partner company called Al Alam Solutions in 2016 and 2017.

  • Financial Times

    FT investigation: Wirecard suspect accounting practices revealed

    FT premium subscribers can click here to receive Due Diligence every day by email. Tuesday was a turbulent day for shares and bonds in Wirecard , the German financial payments company which has a larger ...

  • Business Wire

    WIRECARD LOSSES ALERT: Bernstein Liebhard LLP Announces an Investigation of Wirecard AG

    Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Wirecard AG ("Wirecard" or the "Company") (OTC: WCAGY, WRCDF) resulting from allegations that Wirecard might have issued misleading information to the investing public. If you purchased Wirecard securities, and/or would like to discuss your legal rights and options please visit Wirecard Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com. On October 15, 2019, the Financial Times reported that internal Wirecard documents from the Company "indicate[d] a concerted effort to fraudulently inflate sales and profits" in locations in Dubai and Ireland, including "strong indications" that much of the hundreds of millions of dollars in payments processed by one Dubai-based partner company in 2016 and 2017 never happened.

  • GlobeNewswire

    WIRECARD AG INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL:  Kahn Swick & Foti, LLC Investigates Wirecard AG for Possible Securities Fraud - WCAGY, WRCDF

    NEW ORLEANS, Oct. 15, 2019 -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that.

  • Financial Times

    Wirecard shares slide 13% following accounting report 

    Wirecard shares dropped 13 per cent on Tuesday after the Financial Times published internal documents that appear to show efforts to fraudulently inflate sales and profits at the German technology group. Wirecard shares fell as much as 22 per cent in early trading, to €109.75, but recovered to close at €122.05 after the company said in a statement that the article was “a compilation of a number of false and misleading allegations”. Wirecard’s €1.4bn of bonds also came under severe selling pressure on Tuesday.

  • Wirecard Drops on News Report Suggesting Accounting Misdeeds
    Bloomberg

    Wirecard Drops on News Report Suggesting Accounting Misdeeds

    (Bloomberg) -- Wirecard AG fell the most since February in Frankfurt after a news report said it found repeated questionable accounting practices at the German payments firm.Wirecard fell as much as 23% in early trading after the Financial Times said it’s published internal company documents and correspondence that “appear to indicate a concerted effort to fraudulently inflate sales and profits” at businesses in Dubai and Ireland.“This is total nonsense,” Iris Stoeckl, a spokeswoman for Wirecard, said by phone. “All our numbers have been audited.” In a further emailed statement, a spokesperson from Wirecard said the company "categorically rejects these allegations of impropriety."Wirecard has been trying to move on from a series of Financial Times reports on suspicions of fraud at some units in Asia that caused the firm’s shares to whipsaw early this year. The company found accounting quality issues at its smaller software license business and is "over-investing" in getting rid of them, Chief Executive Officer Markus Braun told reporters in April.The FT’s latest investigation focuses on Dubai-based Al Alam Solutions, a Wirecard partner company that, according to the report, contributed half of the company’s profits in 2016. The newspaper says it has documents showing that Al Alam processed hundreds of millions of dollars in payments for Wirecard clients in 2016 and 2017.Yet the FT says it has "strong indications" that much of the processing didn’t take place, citing customers that were unaware of Al Alam, denied having links with Wirecard at the time, or had shuttered operations by then.Wirecard didn’t immediately comment further on the allegations related to Al Alam.Prior to Tuesday’s collapse, the stock had recovered as Wirecard formed a $1 billion partnership with Japan’s SoftBank in April, won clients including home-improvement retailer Leroy Merlin in Brazil and African airline Royal Air Maroc, and raised its 2019 outlook in August.Wirecard, a developer of software and systems for online payments and fraud protection used across the internet, got its start in 1999 as a provider of financial services to the gambling and adult entertainment industries. Its technology helps process smartphone payment transactions, issue credit cards, and detect suspicious activity. The firm’s revenue soared to 2.1 billion euros ($2.3 billion) last year after it bought at least 18 companies over the space of several years.Wirecard’s newly issued debt also came under pressure Tuesday. Its 2024 fixed coupon bond saw its yield rallying to 3.13% from Monday’s close of 0.83%.(Updates with details on allegations in sixth, seventh paragraphs.)\--With assistance from Jan-Patrick Barnert.To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Andrew BlackmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.