Bank of New York Mellon Corp Reduces Holdings in First Data Corp (FDC)

Bank of New York Mellon Corp trimmed its holdings in shares of First Data Corp (NYSE:FDC) by 23.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,656,301 shares of the business services provider’s stock after selling 3,267,236 shares during the period. Bank of New York Mellon Corp’s holdings in First Data were worth $223,036,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FDC. Acadian Asset Management LLC acquired a new stake in shares of First Data in the 2nd quarter worth about $171,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of First Data in the 2nd quarter worth about $188,000. Nicolet Bankshares Inc. acquired a new stake in shares of First Data in the 2nd quarter worth about $206,000. Marshall Wace LLP acquired a new stake in shares of First Data in the 2nd quarter worth about $242,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of First Data in the 2nd quarter worth about $246,000. 51.45% of the stock is currently owned by institutional investors.

In other news, insider Barry C. Mccarthy sold 151,203 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $25.78, for a total transaction of $3,898,013.34. Following the completion of the transaction, the insider now owns 484,774 shares in the company, valued at approximately $12,497,473.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeff Shanahan sold 115,229 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $23.94, for a total transaction of $2,758,582.26. Following the transaction, the insider now owns 256,100 shares of the company’s stock, valued at approximately $6,131,034. The disclosure for this sale can be found here. In the last three months, insiders have sold 416,432 shares of company stock worth $10,415,596. 5.60% of the stock is owned by corporate insiders.

First Data stock opened at $18.95 on Friday. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 1.35 and a beta of 1.56. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03. First Data Corp has a 52 week low of $14.73 and a 52 week high of $26.62.

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

A number of research firms recently weighed in on FDC. SunTrust Banks reaffirmed a “buy” rating and issued a $27.00 price objective on shares of First Data in a report on Wednesday. KeyCorp dropped their price objective on shares of First Data from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday. Craig Hallum set a $35.00 price objective on shares of First Data and gave the stock a “buy” rating in a report on Monday. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $20.00 price objective (down previously from $23.00) on shares of First Data in a report on Monday. Finally, Robert W. Baird dropped their price objective on shares of First Data from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $27.12.

First Data 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.

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

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