Tdam USA Inc. Has $6.64 Million Position in First Data Corporation (NYSE:FDC)
Tdam USA Inc. cut its stake in shares of First Data Corporation (NYSE:FDC) by 5.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 360,250 shares of the business services provider’s stock after selling 20,007 shares during the period. Tdam USA Inc.’s holdings in First Data Corporation were worth $6,636,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Korea Investment CORP boosted its stake in shares of First Data Corporation by 19.5% in the second quarter. Korea Investment CORP now owns 118,100 shares of the business services provider’s stock valued at $2,149,000 after buying an additional 19,300 shares during the last quarter. Telemus Capital LLC boosted its stake in shares of First Data Corporation by 10.4% in the second quarter. Telemus Capital LLC now owns 106,500 shares of the business services provider’s stock valued at $1,938,000 after buying an additional 10,000 shares during the last quarter. Sei Investments Co. boosted its stake in shares of First Data Corporation by 81.4% in the second quarter. Sei Investments Co. now owns 84,219 shares of the business services provider’s stock valued at $1,533,000 after buying an additional 37,779 shares during the last quarter. World Asset Management Inc boosted its stake in shares of First Data Corporation by 25.1% in the second quarter. World Asset Management Inc now owns 13,935 shares of the business services provider’s stock valued at $254,000 after buying an additional 2,793 shares during the last quarter. Finally, Emerald Advisers Inc. PA bought a new stake in shares of First Data Corporation during the second quarter valued at about $626,000. Institutional investors and hedge funds own 36.55% of the company’s stock.
First Data Corporation (NYSE FDC) opened at 18.58 on Monday. First Data Corporation has a one year low of $12.71 and a one year high of $19.20. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of 33.54 and a beta of 1.77. The firm’s 50 day moving average price is $18.48 and its 200 day moving average price is $16.63.
First Data Corporation (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 analysts’ consensus estimates of $0.21 by $0.07. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.78 billion. First Data Corporation had a net margin of 4.41% and a return on equity of 26.15%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. Equities analysts forecast that First Data Corporation will post $1.53 earnings per share for the current year.
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Several brokerages have recently issued reports on FDC. Zacks Investment Research upgraded First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, August 2nd. BidaskClub cut First Data Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $22.00 price objective on shares of First Data Corporation in a research note on Wednesday, July 26th. Credit Suisse Group increased their price objective on First Data Corporation from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Finally, Morgan Stanley cut First Data Corporation from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $18.00 to $19.00 in a research note on Wednesday, June 28th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. First Data Corporation currently has an average rating of “Buy” and an average price target of $18.44.
In other news, insider Matthew Cagwin sold 8,195 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $16.42, for a total value of $134,561.90. Following the sale, the insider now 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 is accessible through the SEC website. Corporate insiders own 6.30% of the company’s stock.
First Data Corporation 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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