Geode Capital Management LLC Has $57.49 Million Position in First Data Corp (NYSE:FDC)

Geode Capital Management LLC grew its position in shares of First Data Corp (NYSE:FDC) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,442,910 shares of the business services provider’s stock after purchasing an additional 132,378 shares during the period. Geode Capital Management LLC owned about 0.37% of First Data worth $57,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its holdings in shares of First Data by 22.3% in the third quarter. Public Employees Retirement System of Ohio now owns 197,010 shares of the business services provider’s stock worth $3,554,000 after buying an additional 35,981 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of First Data by 1,230.2% in the third quarter. Point72 Asset Management L.P. now owns 5,574,786 shares of the business services provider’s stock worth $100,569,000 after buying an additional 5,155,686 shares during the period. Bank of Montreal Can increased its holdings in shares of First Data by 159.0% in the fourth quarter. Bank of Montreal Can now owns 2,432,974 shares of the business services provider’s stock worth $40,655,000 after buying an additional 1,493,774 shares during the period. Beach Point Capital Management LP purchased a new position in shares of First Data in the fourth quarter worth about $3,426,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of First Data by 92.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,475,185 shares of the business services provider’s stock worth $26,613,000 after buying an additional 709,654 shares during the period. 49.48% of the stock is owned by hedge funds and other institutional investors.

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Shares of FDC stock traded down $0.35 during midday trading on Friday, reaching $15.47. 7,776,991 shares of the stock were exchanged, compared to its average volume of 8,370,463. First Data Corp has a 1 year low of $14.67 and a 1 year high of $19.23. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $14,652.77, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.01 and a beta of 1.45.

First Data (NYSE:FDC) last posted its earnings results on Monday, February 12th. The business services provider reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. First Data had a return on equity of 24.96% and a net margin of 12.16%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. sell-side analysts forecast that First Data Corp will post 1.2 earnings per share for the current year.

FDC has been the topic of several analyst reports. Bank of America upgraded First Data from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Piper Jaffray reiterated a “buy” rating and issued a $26.00 price objective on shares of First Data in a report on Thursday, January 18th. Sanford C. Bernstein upgraded First Data from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 14th. ValuEngine downgraded First Data from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, BMO Capital Markets boosted their price target on First Data from $21.50 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.27.

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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.

Institutional Ownership by Quarter for First Data (NYSE:FDC)

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