First Data (FDC) Holdings Trimmed by Sei Investments Co.

Sei Investments Co. lessened its holdings in shares of First Data (NYSE:FDC) by 45.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 221,953 shares of the business services provider’s stock after selling 183,239 shares during the quarter. Sei Investments Co.’s holdings in First Data were worth $3,552,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its holdings in First Data by 23.8% during the 1st quarter. BlackRock Inc. now owns 27,998,267 shares of the business services provider’s stock worth $447,973,000 after buying an additional 5,380,509 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in First Data by 148.0% during the 1st quarter. Wells Fargo & Company MN now owns 7,999,087 shares of the business services provider’s stock worth $127,986,000 after buying an additional 4,773,138 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in First Data by 17.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,062,006 shares of the business services provider’s stock worth $112,992,000 after buying an additional 1,033,309 shares during the last quarter. TCW Group Inc. lifted its holdings in First Data by 5.2% during the 1st quarter. TCW Group Inc. now owns 4,869,002 shares of the business services provider’s stock worth $77,904,000 after buying an additional 241,492 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its holdings in First Data by 33.1% during the 4th quarter. Brandywine Global Investment Management LLC now owns 4,479,141 shares of the business services provider’s stock worth $74,847,000 after buying an additional 1,114,824 shares during the last quarter. Hedge funds and other institutional investors own 51.90% of the company’s stock.

In other news, insider Christopher M. Foskett sold 17,500 shares of First Data stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $21.77, for a total transaction of $380,975.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony S. Marino sold 7,000 shares of First Data stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $18.10, for a total value of $126,700.00. Following the transaction, the insider now owns 270,100 shares in the company, valued at $4,888,810. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 300 shares of company stock worth $5,627 and sold 166,412 shares worth $3,259,248. 5.60% of the stock is owned by company insiders.

A number of research analysts have commented on the company. SunTrust Banks increased their target price on First Data to $26.00 and gave the stock a “buy” rating in a report on Friday, June 15th. Raymond James assumed coverage on First Data in a report on Friday, June 15th. They set an “outperform” rating and a $23.00 target price on the stock. BTIG Research increased their target price on First Data to $27.00 and gave the stock a “buy” rating in a report on Friday, June 15th. Cantor Fitzgerald reissued a “hold” rating and issued a $17.00 price target on shares of First Data in a report on Wednesday, June 13th. Finally, Credit Suisse Group raised their price target on First Data from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, June 13th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. First Data currently has an average rating of “Buy” and an average price target of $22.25.

FDC opened at $21.84 on Wednesday. First Data has a 12 month low of $14.73 and a 12 month high of $22.14. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $20.13 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42.

First Data (NYSE:FDC) last posted its earnings results on Monday, April 30th. The business services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. First Data had a return on equity of 23.21% and a net margin of 13.27%. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue was down 18.5% compared to the same quarter last year. research analysts expect that First Data will post 1.24 earnings per share for the current fiscal year.

About First Data

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.

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

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