ETRADE Capital Management LLC Purchases New Stake in First Data Corporation (FDC)
ETRADE Capital Management LLC purchased a new stake in shares of First Data Corporation (NYSE:FDC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,095 shares of the business services provider’s stock, valued at approximately $218,000.
Several other hedge funds and other institutional investors also recently modified their holdings of FDC. Pacer Advisors Inc. boosted its position in shares of First Data 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 buying an additional 452 shares during the period. Advisor Group Inc. boosted its position in shares of First Data by 113.3% in the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after buying an additional 2,964 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of First Data in the third quarter worth $117,000. Riverhead Capital Management LLC acquired a new stake in shares of First Data in the second quarter worth $135,000. Finally, First Manhattan Co. boosted its position in shares of First Data by 200.0% in the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock worth $135,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 49.09% of the company’s stock.
In other news, insider Andrew Gelb sold 7,473 shares of First Data stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $17.12, for a total value of $127,937.76. Following the transaction, the insider now directly owns 417,652 shares in the company, valued at $7,150,202.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cynthia A. Armine-Klein sold 28,000 shares of First Data stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $17.94, for a total value of $502,320.00. Following the completion of the transaction, the insider now owns 596,052 shares in the company, valued at $10,693,172.88. The disclosure for this sale can be found here. Over the last quarter, insiders bought 25,200 shares of company stock worth $423,964 and sold 77,445 shares worth $1,394,613. Insiders own 6.30% of the company’s stock.
First Data Corporation (NYSE FDC) traded up $0.09 during trading on Wednesday, hitting $16.35. The stock had a trading volume of 566,531 shares, compared to its average volume of 4,452,848. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58. The company has a market capitalization of $14,747.75, a price-to-earnings ratio of 12.68, a PEG ratio of 1.08 and a beta of 1.51. First Data Corporation has a twelve month low of $13.96 and a twelve month high of $19.23.
First Data (NYSE:FDC) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.08 billion. First Data had a return on equity of 26.60% and a net margin of 5.99%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. analysts predict that First Data Corporation will post 1.28 earnings per share for the current year.
A number of analysts recently issued reports on FDC shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 price objective on shares of First Data in a research report on Thursday, August 24th. Zacks Investment Research raised First Data from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Piper Jaffray Companies reissued an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of First Data in a research report on Thursday, August 10th. Barclays lifted their price objective on First Data from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of First Data in a research report on Tuesday, September 5th. Eight analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $19.63.
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First Data 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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