Davidson & Garrard Inc. Acquires Shares of 16,000 First Data Corporation (FDC)
Davidson & Garrard Inc. acquired a new position in First Data Corporation (NYSE:FDC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,000 shares of the business services provider’s stock, valued at approximately $289,000.
Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in First Data Corporation by 8.9% in the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after purchasing an additional 452 shares during the period. Advisor Group Inc. boosted its holdings in shares of First Data Corporation by 113.3% during the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 2,964 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of First Data Corporation during the second quarter valued at $135,000. Riverhead Capital Management LLC acquired a new position in shares of First Data Corporation during the second quarter valued at $135,000. Finally, First Manhattan Co. boosted its holdings in shares of First Data Corporation by 200.0% during the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 5,000 shares during the period. 40.89% of the stock is owned by hedge funds and other institutional investors.
Shares of First Data Corporation (NYSE FDC) traded down $0.10 during trading on Wednesday, reaching $16.78. 5,435,181 shares of the company’s stock traded hands, compared to its average volume of 4,427,237. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.58. First Data Corporation has a 12-month low of $13.96 and a 12-month high of $19.23. The company has a market capitalization of $15,818.97, a PE ratio of 13.60, a PEG ratio of 1.15 and a beta of 1.69.
First Data Corporation (NYSE:FDC) last issued its quarterly earnings results on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the business earned $0.34 earnings per share. First Data Corporation’s revenue for the quarter was up 4.8% compared to the same quarter last year. equities research analysts anticipate that First Data Corporation will post 1.29 EPS for the current fiscal year.
In related news, CEO Frank Bisignano acquired 25,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were purchased at an average price of $16.82 per share, for a total transaction of $420,500.00. Following the acquisition, the chief executive officer now owns 7,107,398 shares in the company, valued at $119,546,434.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Barry C. Mccarthy sold 81,858 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $18.17, for a total value of $1,487,359.86. Following the sale, the insider now owns 406,890 shares in the company, valued at approximately $7,393,191.30. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 247,182 shares of company stock worth $4,458,069 and sold 151,830 shares worth $2,754,035. 6.30% of the stock is currently owned by insiders.
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FDC has been the subject of several analyst reports. Zacks Investment Research raised shares of First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, July 21st. Credit Suisse Group reissued an “outperform” rating on shares of First Data Corporation in a report on Tuesday, September 5th. SunTrust Banks, Inc. reissued a “buy” rating on shares of First Data Corporation in a report on Friday, October 20th. Wedbush raised shares of First Data Corporation from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $25.00 to $20.00 in a report on Friday, October 20th. Finally, Cowen and Company reissued a “buy” rating and set a $20.00 price target on shares of First Data Corporation in a report on Thursday, October 12th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $19.55.
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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