Seven Eight Capital LP lessened its holdings in First Data Corporation (NYSE:FDC) by 54.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,260 shares of the business services provider’s stock after selling 62,000 shares during the period. Seven Eight Capital LP’s holdings in First Data Corporation were worth $933,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of First Data Corporation by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 313,570 shares of the business services provider’s stock valued at $4,860,000 after purchasing an additional 1,500 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of First Data Corporation by 4,509.6% in the second quarter. American Century Companies Inc. now owns 4,545,711 shares of the business services provider’s stock valued at $82,732,000 after purchasing an additional 4,447,098 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of First Data Corporation by 4.7% in the second quarter. Prudential Financial Inc. now owns 1,270,900 shares of the business services provider’s stock valued at $23,131,000 after purchasing an additional 57,600 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of First Data Corporation by 51.3% in the second quarter. Russell Investments Group Ltd. now owns 159,661 shares of the business services provider’s stock valued at $2,905,000 after purchasing an additional 54,118 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of First Data Corporation by 187.9% in the first quarter. Nuveen Asset Management LLC now owns 1,136,196 shares of the business services provider’s stock valued at $17,611,000 after purchasing an additional 741,547 shares in the last quarter. 39.11% of the stock is currently owned by institutional investors.

In related news, insider Jeff Shanahan purchased 77,453 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average cost of $18.04 per share, for a total transaction of $1,397,252.12. Following the completion of the acquisition, the insider now owns 1,160,964 shares in the company, valued at approximately $20,943,790.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Barry C. Mccarthy sold 81,858 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $18.17, for a total transaction of $1,487,359.86. Following the sale, the insider now owns 406,890 shares of the company’s stock, valued at $7,393,191.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 340,217 shares of company stock valued at $6,139,786. 6.30% of the stock is currently owned by corporate insiders.

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Shares of First Data Corporation (FDC) opened at 17.96 on Friday. The stock has a 50 day moving average of $18.16 and a 200 day moving average of $17.14. First Data Corporation has a 52-week low of $12.74 and a 52-week high of $19.20. The firm has a market cap of $16.58 billion, a price-to-earnings ratio of 30.03 and a beta of 1.77.

First Data Corporation (NYSE:FDC) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. Equities analysts predict that First Data Corporation will post $1.53 EPS for the current fiscal year.

Several equities analysts recently issued reports on the stock. Craig Hallum reissued a “buy” rating and set a $25.00 price objective (up previously from $20.00) on shares of First Data Corporation in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of 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. Credit Suisse Group upped their price objective on shares of First Data Corporation from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. ValuEngine downgraded shares of First Data Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Robert W. Baird reissued a “hold” rating and set a $20.00 price objective on shares of First Data Corporation in a research note on Friday, August 25th. Ten analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $18.91.

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

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