Korea Investment CORP bought a new stake in First Data Corp (NYSE:FDC) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 98,800 shares of the business services provider’s stock, valued at approximately $1,531,000.
Several other institutional investors have also bought and sold shares of the company. Trellus Management Company LLC purchased a new position in shares of First Data Corp during the third quarter valued at approximately $395,000. LMR Partners LLP purchased a new position in shares of First Data Corp during the third quarter valued at approximately $3,598,000. Aperio Group LLC boosted its position in shares of First Data Corp by 21.0% in the third quarter. Aperio Group LLC now owns 17,983 shares of the business services provider’s stock valued at $237,000 after buying an additional 3,124 shares in the last quarter. Commerce Bank boosted its position in shares of First Data Corp by 19.6% in the third quarter. Commerce Bank now owns 1,564,100 shares of the business services provider’s stock valued at $20,584,000 after buying an additional 256,045 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of First Data Corp by 5.9% in the third quarter. PNC Financial Services Group Inc. now owns 16,546 shares of the business services provider’s stock valued at $218,000 after buying an additional 918 shares in the last quarter. Hedge funds and other institutional investors own 36.54% of the company’s stock.
First Data Corp (NYSE:FDC) traded up 1.67% during midday trading on Friday, reaching $16.43. 666,719 shares of the company were exchanged. The firm has a market capitalization of $15.10 billion, a PE ratio of 29.66 and a beta of 1.76. First Data Corp has a 52 week low of $9.90 and a 52 week high of $17.01. The company has a 50-day moving average of $15.65 and a 200 day moving average of $15.32.
First Data Corp (NYSE:FDC) last issued its earnings results on Monday, May 8th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.07. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.78 billion. First Data Corp had a return on equity of 25.67% and a net margin of 3.63%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. Equities analysts predict that First Data Corp will post $1.53 earnings per share for the current year.
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Several equities analysts recently commented on the stock. FIX assumed coverage on shares of First Data Corp in a research note on Thursday. They set an “outperform” rating and a $18.00 price objective for the company. Raymond James Financial, Inc. assumed coverage on shares of First Data Corp in a research note on Friday. They set an “outperform” rating and a $18.00 price objective for the company. Atlantic Securities reaffirmed a “neutral” rating and set a $17.00 price objective on shares of First Data Corp in a research note on Wednesday, April 12th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $19.00 target price (up from $18.00) on shares of First Data Corp in a research report on Wednesday, May 10th. Finally, Instinet lifted their target price on shares of First Data Corp from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, May 9th. Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $17.64.
In other First Data Corp news, insider Matthew Cagwin sold 8,195 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $16.42, for a total value of $134,561.90. Following the completion of the sale, the insider now directly owns 85,007 shares in the company, valued at approximately $1,395,814.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 9.50% of the stock is owned by corporate insiders.
First Data Corp Company Profile
First Data Corporation is a provider of commerce-enabling technology and solutions for merchants, financial institutions and card issuers. The Company’s segments are Global Business Solutions (GBS), Global Financial Solutions (GFS), Network & Security Solutions (NSS), and Corporate. The GBS segment provides businesses of all sizes and types with a range of solutions at the point of sale, including merchant acquiring, e-commerce, mobile commerce, point-of-sale, and other business solutions.
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