Livforsakringsbolaget Skandia Omsesidigt reduced its stake in First Data Corp (NYSE:FDC) by 36.5% during the third quarter, HoldingsChannel reports. The firm owned 4,700 shares of the business services provider’s stock after selling 2,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in First Data were worth $115,000 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. Acadian Asset Management LLC bought a new position in First Data during the second quarter valued at approximately $171,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of First Data in the 2nd quarter worth about $188,000. Nicolet Bankshares Inc. purchased a new position in shares of First Data in the 2nd quarter worth about $206,000. ST Germain D J Co. Inc. purchased a new position in shares of First Data in the 3rd quarter worth about $276,000. Finally, Marshall Wace LLP purchased a new position in shares of First Data in the 2nd quarter worth about $242,000. 51.52% of the stock is currently owned by institutional investors and hedge funds.
FDC has been the subject of several research analyst reports. Stephens reiterated an “overweight” rating and issued a $25.00 price objective (down from $30.00) on shares of First Data in a report on Monday. SunTrust Banks reiterated a “buy” rating and issued a $27.00 price objective on shares of First Data in a report on Wednesday, October 31st. KeyCorp reduced their price objective on First Data from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, October 30th. Craig Hallum set a $35.00 price objective on First Data and gave the stock a “buy” rating in a report on Monday, October 29th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $20.00 price objective (down from $23.00) on shares of First Data in a report on Monday, October 29th. Five equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $27.04.
In other First Data news, insider Jeff Shanahan sold 115,229 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Guy Chiarello sold 150,000 shares of the business’s 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. Over the last 90 days, insiders have sold 416,432 shares of company stock valued at $10,415,596. Corporate insiders own 5.60% of the company’s stock.
First Data stock opened at $18.40 on Tuesday. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.62 and a beta of 1.94. First Data Corp has a 52-week low of $14.73 and a 52-week high of $26.62. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.47.
First Data (NYSE:FDC) last released its quarterly earnings results on Monday, October 29th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ 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 19.33%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. On average, sell-side analysts expect that First Data Corp will post 1.2 earnings per share for the current fiscal year.
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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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