TD Asset Management Inc. Reduces Position in First Data Corporation (NYSE:FDC)
TD Asset Management Inc. cut its position in shares of First Data Corporation (NYSE:FDC) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 954,776 shares of the business services provider’s stock after selling 30,699 shares during the period. TD Asset Management Inc.’s holdings in First Data Corporation were worth $17,377,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of First Data Corporation by 1,276.6% in the first quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock worth $103,000 after buying an additional 6,153 shares during the period. Independent Portfolio Consultants Inc. acquired a new position in shares of First Data Corporation during the first quarter worth about $106,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of First Data Corporation during the second quarter worth about $135,000. Nordea Investment Management AB raised its position in shares of First Data Corporation by 9.0% in the first quarter. Nordea Investment Management AB now owns 7,632 shares of the business services provider’s stock worth $118,000 after buying an additional 632 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its position in shares of First Data Corporation by 79.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,700 shares of the business services provider’s stock worth $119,000 after buying an additional 3,400 shares during the period. Institutional investors and hedge funds own 36.55% of the company’s stock.
Shares of First Data Corporation (NYSE FDC) opened at 17.47 on Friday. The company has a market cap of $16.12 billion, a price-to-earnings ratio of 29.21 and a beta of 1.77. First Data Corporation has a 1-year low of $12.74 and a 1-year high of $19.20. The stock has a 50 day moving average of $18.41 and a 200 day moving average of $16.75.
First Data Corporation (NYSE:FDC) last announced its earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. Analysts predict that First Data Corporation will post $1.53 EPS for the current year.
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A number of research analysts recently issued reports on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 price objective (up previously from $22.00) on shares of First Data Corporation in a report on Thursday. Morgan Stanley raised their price objective on shares of First Data Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. BidaskClub lowered shares of First Data Corporation from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research upgraded shares of 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, Craig Hallum reiterated a “buy” rating and issued a $25.00 price objective (up previously from $20.00) on shares of First Data Corporation in a report on Tuesday, August 8th. Nine investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price 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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