First Data Corporation (FDC) Holdings Reduced by BlueMountain Capital Management LLC
BlueMountain Capital Management LLC trimmed its holdings in shares of First Data Corporation (NYSE:FDC) by 43.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,659 shares of the business services provider’s stock after selling 23,194 shares during the period. BlueMountain Capital Management LLC’s holdings in First Data Corporation were worth $558,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. boosted its stake in First Data Corporation by 4,509.6% during the 2nd 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 during the last quarter. Prudential Financial Inc. boosted its stake in First Data Corporation by 4.7% during the 2nd 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 during the last quarter. Russell Investments Group Ltd. boosted its stake in First Data Corporation by 51.3% during the 2nd 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 during the last quarter. Nuveen Asset Management LLC boosted its stake in First Data Corporation by 187.9% during the 1st 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 during the last quarter. Finally, Stifel Financial Corp purchased a new stake in First Data Corporation during the 1st quarter valued at $315,000. Institutional investors and hedge funds own 39.13% of the company’s stock.
First Data Corporation (NYSE:FDC) opened at 18.18 on Friday. First Data Corporation has a one year low of $12.74 and a one year high of $19.20. The company has a 50-day moving average price of $18.14 and a 200-day moving average price of $17.19. The company has a market capitalization of $16.78 billion, a PE ratio of 30.40 and a beta of 1.77.
First Data Corporation (NYSE:FDC) last posted its earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share (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 net margin of 4.66% and a return on equity of 26.25%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. Analysts expect that First Data Corporation will post $1.53 earnings per share for the current fiscal year.
FDC has been the topic of several recent analyst reports. Zacks Investment Research upgraded First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Friday, July 21st. Credit Suisse Group reissued an “outperform” rating on shares of First Data Corporation in a report on Tuesday, September 5th. BTIG Research reissued a “buy” rating and set a $23.00 price target (up from $18.00) on shares of First Data Corporation in a report on Monday, June 19th. ValuEngine cut First Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Morgan Stanley cut First Data Corporation from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $18.00 to $19.00 in a report on Wednesday, June 28th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. First Data Corporation currently has a consensus rating of “Buy” and a consensus target price of $18.91.
In other First Data Corporation news, insider Jeff Shanahan bought 34,284 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was bought at an average cost of $18.44 per share, for a total transaction of $632,196.96. Following the completion of the transaction, the insider now directly owns 1,340,434 shares of the company’s stock, valued at approximately $24,717,602.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cynthia A. Armine-Klein sold 28,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $17.94, for a total transaction of $502,320.00. Following the transaction, the insider now owns 596,052 shares of the company’s stock, valued at $10,693,172.88. 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 and have sold 151,830 shares valued at $2,754,035. Insiders own 6.30% of the company’s stock.
First Data Corporation 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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