Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of First Data Corp (NYSE:FDC) by 55.5% in the third quarter, HoldingsChannel.com reports. The fund owned 420,202 shares of the business services provider’s stock after selling 523,117 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in First Data were worth $10,282,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Gamco Investors INC. ET AL lifted its position in First Data by 8.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 27,600 shares of the business services provider’s stock worth $578,000 after acquiring an additional 2,100 shares during the period. CIBC Asset Management Inc lifted its position in First Data by 7.4% during the 2nd quarter. CIBC Asset Management Inc now owns 33,017 shares of the business services provider’s stock worth $691,000 after acquiring an additional 2,285 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in First Data by 6.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 37,800 shares of the business services provider’s stock worth $791,000 after acquiring an additional 2,292 shares during the period. First Mercantile Trust Co. lifted its position in First Data by 22.7% during the 3rd quarter. First Mercantile Trust Co. now owns 15,700 shares of the business services provider’s stock worth $384,000 after acquiring an additional 2,900 shares during the period. Finally, World Asset Management Inc lifted its position in First Data by 17.8% during the 3rd quarter. World Asset Management Inc now owns 21,347 shares of the business services provider’s stock worth $522,000 after acquiring an additional 3,228 shares during the period. 56.29% of the stock is owned by institutional investors.
In other news, insider Barry C. Mccarthy sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $18.69, for a total transaction of $654,150.00. Following the transaction, the insider now directly owns 368,571 shares in the company, valued at approximately $6,888,591.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Barry C. Mccarthy sold 151,203 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $25.78, for a total value of $3,898,013.34. Following the transaction, the insider now owns 484,774 shares in the company, valued at $12,497,473.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 399,228 shares of company stock worth $8,614,395. 5.60% of the stock is currently owned by insiders.
A number of analysts have commented on FDC shares. Wedbush lifted their price target on First Data from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, September 6th. Nomura lifted their price objective on First Data from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, October 17th. Cantor Fitzgerald reiterated a “hold” rating and set a $20.00 price objective (down previously from $23.00) on shares of First Data in a research note on Monday, October 29th. Barclays began coverage on First Data in a research note on Wednesday, November 14th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, Atlantic Securities upgraded First Data from a “neutral” rating to an “overweight” rating in a research note on Friday, August 17th. 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 an average rating of “Buy” and an average price target of $27.04.
Shares of First Data stock opened at $18.10 on Thursday. 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 Corp has a twelve month low of $14.73 and a twelve month high of $26.62. The stock has a market capitalization of $16.96 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.57 and a beta of 1.93.
First Data (NYSE:FDC) last announced its quarterly earnings results on Monday, October 29th. The business services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). First Data had a net margin of 17.48% and a return on equity of 19.33%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. First Data’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts forecast that First Data Corp will post 1.19 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in First Data Corp (FDC)” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/12/06/mitsubishi-ufj-trust-banking-corp-lowers-holdings-in-first-data-corp-fdc.html.
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.
See Also: How is the S&P 500 index different from the DJIA?
Want to see what other hedge funds are holding FDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Data Corp (NYSE:FDC).
Receive News & Ratings for First Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Data and related companies with MarketBeat.com's FREE daily email newsletter.