Creative Planning Decreases Stake in First Data Corporation (FDC)
Creative Planning lowered its stake in First Data Corporation (NYSE:FDC) by 58.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,700 shares of the business services provider’s stock after selling 13,500 shares during the period. Creative Planning’s holdings in First Data Corporation were worth $177,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of FDC. CenturyLink Investment Management Co purchased a new position in shares of First Data Corporation during the second quarter valued at about $1,309,000. Xact Kapitalforvaltning AB boosted its position in shares of First Data Corporation by 13.9% in the second quarter. Xact Kapitalforvaltning AB now owns 28,656 shares of the business services provider’s stock valued at $522,000 after buying an additional 3,487 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of First Data Corporation during the second quarter valued at about $135,000. Independent Portfolio Consultants Inc. boosted its position in shares of First Data Corporation by 11.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 7,687 shares of the business services provider’s stock valued at $140,000 after buying an additional 817 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of First Data Corporation by 13.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 38,103 shares of the business services provider’s stock valued at $591,000 after buying an additional 4,403 shares in the last quarter. 36.55% of the stock is owned by hedge funds and other institutional investors.
Shares of First Data Corporation (NYSE:FDC) traded down 1.06% during midday trading on Thursday, hitting $17.76. The stock had a trading volume of 1,037,339 shares. The company’s 50-day moving average price is $18.46 and its 200-day moving average price is $16.73. First Data Corporation has a 12-month low of $12.74 and a 12-month high of $19.20. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 29.70 and a beta of 1.77.
First Data Corporation (NYSE:FDC) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period last year, the company earned $0.35 earnings per share. First Data Corporation’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that First Data Corporation will post $1.53 EPS for the current year.
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Several equities analysts recently issued reports on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of First Data Corporation in a report on Thursday. Morgan Stanley lifted their price objective on First Data Corporation from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday. Craig Hallum reaffirmed a “buy” rating and set a $25.00 price objective (up from $20.00) on shares of First Data Corporation in a report on Tuesday. Zacks Investment Research raised First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, August 2nd. Finally, BidaskClub cut First Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Eight equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. First Data Corporation presently has an average rating of “Buy” and an average price target of $18.70.
About First Data Corporation
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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