JPMorgan Chase & Co. grew its position in shares of First Data Corp (NYSE:FDC) by 33.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,523,468 shares of the business services provider’s stock after buying an additional 2,128,341 shares during the period. JPMorgan Chase & Co.’s holdings in First Data were worth $223,911,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FDC. Investors Research Corp acquired a new stake in First Data in the 1st quarter valued at approximately $39,000. FNY Investment Advisers LLC acquired a new stake in First Data in the 4th quarter valued at approximately $42,000. First Personal Financial Services increased its position in First Data by 57.9% in the 4th quarter. First Personal Financial Services now owns 4,049 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 1,484 shares during the period. Penserra Capital Management LLC acquired a new stake in First Data in the 4th quarter valued at approximately $86,000. Finally, Macquarie Group Ltd. acquired a new stake in First Data in the 4th quarter valued at approximately $114,000. 56.26% of the stock is currently owned by institutional investors.
FDC has been the topic of several analyst reports. Tigress Financial cut First Data from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. Cantor Fitzgerald raised their target price on First Data to $25.00 and gave the company a “neutral” rating in a research report on Thursday, February 7th. Barclays cut First Data from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $24.00 to $23.00 in a research report on Tuesday, January 22nd. Wells Fargo & Co cut First Data from an “outperform” rating to a “market perform” rating and set a $25.05 price target on the stock. in a research report on Tuesday, February 12th. Finally, Zacks Investment Research cut First Data from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Twenty equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. First Data has an average rating of “Hold” and an average price target of $25.19.
In other news, insider Daniel J. Charron sold 74,600 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $25.62, for a total value of $1,911,252.00. Following the completion of the sale, the insider now owns 432,951 shares of the company’s stock, valued at $11,092,204.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Guy Chiarello sold 203,647 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $25.85, for a total value of $5,264,274.95. Following the completion of the sale, the president now directly owns 1,324,235 shares of the company’s stock, valued at approximately $34,231,474.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 375,384 shares of company stock valued at $9,680,575. 4.87% of the stock is currently owned by insiders.
Shares of NYSE FDC opened at $26.30 on Wednesday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $24.53 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.38 and a beta of 2.21. First Data Corp has a 52-week low of $15.52 and a 52-week high of $27.15.
First Data (NYSE:FDC) last issued its earnings results on Tuesday, April 30th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.04. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.09 billion. First Data had a return on equity of 18.04% and a net margin of 11.26%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. As a group, research analysts expect that First Data Corp will post 1.39 EPS for the current fiscal year.
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First Data Company Profile
First Data Corporation provides commerce enabled technology and solutions for merchants, financial institutions, and card issuers in the United States, Canada, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company operates through three segments: Global Business Solutions, Global Financial Solutions, and Network & Security Solutions.
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