7,763 Shares in First Data Corp (FDC) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd purchased a new stake in shares of First Data Corp (NYSE:FDC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,763 shares of the business services provider’s stock, valued at approximately $190,000.

A number of other institutional investors have also recently bought and sold shares of the business. Gamco Investors INC. ET AL grew its stake 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 valued at $578,000 after purchasing an additional 2,100 shares during the last quarter. CIBC Asset Management Inc grew its stake 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 valued at $691,000 after purchasing an additional 2,285 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake 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 valued at $791,000 after purchasing an additional 2,292 shares during the last quarter. World Asset Management Inc grew its stake 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 valued at $522,000 after purchasing an additional 3,228 shares during the last quarter. Finally, Enterprise Financial Services Corp grew its stake in First Data by 20.3% during the 3rd quarter. Enterprise Financial Services Corp now owns 20,650 shares of the business services provider’s stock valued at $505,000 after purchasing an additional 3,480 shares during the last quarter. Institutional investors and hedge funds own 51.45% of the company’s stock.

Several research firms have weighed in on FDC. SunTrust Banks reiterated a “buy” rating and set a $27.00 price target on shares of First Data in a research note on Wednesday. KeyCorp dropped their price target on First Data from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday. Craig Hallum set a $35.00 target price on First Data and gave the stock a “buy” rating in a research note on Monday, October 29th. Cantor Fitzgerald restated a “hold” rating and issued a $20.00 target price (down previously from $23.00) on shares of First Data in a research note on Monday, October 29th. Finally, Robert W. Baird lowered their target price on First Data from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.12.

Shares of FDC opened at $18.75 on Friday. First Data Corp has a 52 week low of $14.73 and a 52 week high of $26.62. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. The stock has a market capitalization of $17.50 billion, a PE ratio of 14.65, a P/E/G ratio of 1.57 and a beta of 1.94.

First Data (NYSE:FDC) last issued its quarterly earnings results on Monday, October 29th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.22 billion. First Data had a return on equity of 19.84% and a net margin of 17.48%. The business’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 company posted $0.40 EPS. On average, research analysts predict that First Data Corp will post 1.2 EPS for the current fiscal year.

In other First Data news, insider Barry C. Mccarthy sold 151,203 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $25.78, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeff Shanahan sold 115,229 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $23.94, for a total value of $2,758,582.26. Following the transaction, the insider now owns 256,100 shares in the company, valued at approximately $6,131,034. The disclosure for this sale can be found here. Insiders have sold 416,432 shares of company stock worth $10,415,596 in the last quarter. 5.60% of the stock is currently owned by company insiders.

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.

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

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