Nisa Investment Advisors LLC Increases Position in First Data Corp (FDC)
Nisa Investment Advisors LLC boosted its position in shares of First Data Corp (NYSE:FDC) by 20.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 132,000 shares of the business services provider’s stock after buying an additional 22,000 shares during the period. Nisa Investment Advisors LLC’s holdings in First Data were worth $2,206,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in FDC. Advisor Group Inc. boosted its stake in First Data 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 buying an additional 2,964 shares in the last quarter. Macquarie Group Ltd. bought a new position in First Data during the third quarter valued at about $117,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in First Data by 254.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock valued at $130,000 after buying an additional 5,173 shares in the last quarter. Riverhead Capital Management LLC bought a new position in First Data during the second quarter valued at about $135,000. Finally, First Manhattan Co. boosted its stake in First Data 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 buying an additional 5,000 shares in the last quarter. 49.05% of the stock is owned by institutional investors and hedge funds.
FDC has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 target price on shares of First Data in a research note on Friday, October 6th. Barclays raised their target price on First Data from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Zacks Investment Research raised First Data from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Robert W. Baird reaffirmed a “hold” rating and set a $22.00 target price on shares of First Data in a research note on Monday, November 13th. Finally, Nomura decreased their target price on First Data from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 1st. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $20.11.
First Data (NYSE:FDC) last announced its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.08 billion. First Data had a return on equity of 26.60% and a net margin of 5.99%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. analysts predict that First Data Corp will post 1.28 earnings per share for the current year.
In related news, insider Andrew Gelb sold 7,473 shares of the 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 completion of the sale, the insider now directly owns 417,652 shares of the company’s stock, valued at approximately $7,150,202.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank Bisignano acquired 25,000 shares of First Data stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $16.82 per share, with a total value of $420,500.00. Following the completion of the purchase, the chief executive officer now owns 7,107,398 shares in the company, valued at approximately $119,546,434.36. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 25,300 shares of company stock valued at $425,624. Company insiders own 6.30% of the company’s stock.
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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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