Bank of Montreal Can Buys 140,963 Shares of First Data Corp (FDC)

Bank of Montreal Can increased its stake in shares of First Data Corp (NYSE:FDC) by 240.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 199,652 shares of the business services provider’s stock after purchasing an additional 140,963 shares during the period. Bank of Montreal Can’s holdings in First Data were worth $4,885,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FDC. OppenheimerFunds Inc. increased its stake in First Data by 95.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 11,790,919 shares of the business services provider’s stock worth $246,783,000 after acquiring an additional 5,772,608 shares during the last quarter. Millennium Management LLC increased its stake in First Data by 129.8% in the 2nd quarter. Millennium Management LLC now owns 6,182,051 shares of the business services provider’s stock worth $129,390,000 after acquiring an additional 3,492,441 shares during the last quarter. Senator Investment Group LP increased its stake in First Data by 36.7% in the 2nd quarter. Senator Investment Group LP now owns 10,250,000 shares of the business services provider’s stock worth $214,532,000 after acquiring an additional 2,750,000 shares during the last quarter. Argent Capital Management LLC bought a new position in First Data in the 2nd quarter worth about $53,331,000. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new position in First Data in the 2nd quarter worth about $40,312,000. 51.45% of the stock is currently owned by institutional investors and hedge funds.

FDC has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on First Data from $20.00 to $22.00 and gave the stock a “$22.60” rating in a research note on Thursday, July 19th. Citigroup upped their target price on First Data to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, July 17th. They noted that the move was a valuation call. Craig Hallum set a $35.00 target price on First Data and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Mizuho restated a “buy” rating and issued a $28.00 target price on shares of First Data in a research note on Tuesday, July 31st. Finally, SunTrust Banks restated a “buy” rating and issued a $29.00 target price on shares of First Data in a research note on Tuesday, July 31st. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $27.12.

In related news, insider Jeff Shanahan sold 115,229 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $23.94, for a total transaction of $2,758,582.26. Following the completion of the sale, the insider now directly owns 256,100 shares in the company, valued at approximately $6,131,034. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Guy Chiarello sold 150,000 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $25.06, for a total value of $3,759,000.00. Following the sale, the president now owns 1,408,272 shares of the company’s stock, valued at $35,291,296.32. The disclosure for this sale can be found here. Insiders have sold a total of 416,432 shares of company stock worth $10,415,596 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

Shares of First Data stock opened at $18.95 on Friday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $16.66 billion, a PE ratio of 14.80, a PEG ratio of 1.35 and a beta of 1.56. First Data Corp has a 12 month low of $14.73 and a 12 month high of $26.62.

First Data (NYSE:FDC) last announced its quarterly earnings data on Monday, October 29th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.22 billion. First Data had a net margin of 17.48% and a return on equity of 19.84%. First Data’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 earnings per share. Research analysts forecast that First Data Corp will post 1.24 EPS for the current 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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