BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of First Data Corp (NYSE:FDC) by 19.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 137,742 shares of the business services provider’s stock after selling 33,308 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in First Data were worth $2,883,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GAM Holding AG bought a new stake in First Data in the second quarter worth approximately $639,000. CIBC Asset Management Inc grew its position in First Data by 7.4% in the second quarter. CIBC Asset Management Inc now owns 33,017 shares of the business services provider’s stock worth $691,000 after acquiring an additional 2,285 shares in the last quarter. Standard Life Aberdeen plc grew its position in First Data by 0.6% in the second quarter. Standard Life Aberdeen plc now owns 6,262,911 shares of the business services provider’s stock worth $131,177,000 after acquiring an additional 36,430 shares in the last quarter. Argent Capital Management LLC bought a new stake in First Data in the second quarter worth approximately $53,331,000. Finally, GSA Capital Partners LLP grew its position in First Data by 139.6% in the second quarter. GSA Capital Partners LLP now owns 68,904 shares of the business services provider’s stock worth $1,442,000 after acquiring an additional 40,148 shares in the last quarter. 51.30% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on FDC. ValuEngine raised shares of First Data from a “hold” rating to a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reissued a “hold” rating and issued a $17.00 target price on shares of First Data in a research report on Wednesday, June 13th. Wedbush boosted their target price on shares of First Data from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. Stephens reissued a “buy” rating and issued a $27.00 target price on shares of First Data in a research report on Wednesday, August 1st. Finally, Credit Suisse Group boosted their target price on shares of First Data from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. First Data currently has a consensus rating of “Buy” and an average price target of $25.69.
In related news, President Guy Chiarello sold 150,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $25.06, for a total transaction of $3,759,000.00. Following the completion of the transaction, the president now directly owns 1,408,272 shares in the company, valued at approximately $35,291,296.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher M. Foskett sold 17,500 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $21.77, for a total transaction of $380,975.00. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 300 shares of company stock valued at $6,780 and have sold 282,729 shares valued at $6,898,557. 5.60% of the stock is owned by corporate insiders.
NYSE FDC opened at $25.16 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.77. The firm has a market cap of $24.16 billion, a P/E ratio of 19.66, a PEG ratio of 1.94 and a beta of 1.54. First Data Corp has a 1 year low of $14.73 and a 1 year high of $26.00.
First Data (NYSE:FDC) last posted its quarterly earnings data on Monday, July 30th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.20 billion. First Data had a net margin of 15.39% and a return on equity of 21.88%. First Data’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. equities research analysts expect that First Data Corp will post 1.25 earnings per share for the current year.
First Data Company Profile
First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.
Want to see what other hedge funds are holding FDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Data Corp (NYSE:FDC).
Receive News & Ratings for First Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Data and related companies with MarketBeat.com's FREE daily email newsletter.