Renaissance Group LLC Purchases New Position in First Data Corporation (FDC)

Renaissance Group LLC purchased a new position in shares of First Data Corporation (NYSE:FDC) in the third quarter, according to its most recent filing with the SEC. The firm purchased 130,813 shares of the business services provider’s stock, valued at approximately $2,360,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FDC. American Century Companies Inc. lifted its position in shares of First Data 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 worth $82,732,000 after buying an additional 4,447,098 shares in the last quarter. Prudential Financial Inc. grew its stake in First Data by 4.7% in 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 buying an additional 57,600 shares in the last quarter. Russell Investments Group Ltd. grew its stake in First Data by 51.3% in 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 buying an additional 54,118 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of First Data by 55.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,117,960 shares of the business services provider’s stock valued at $20,168,000 after purchasing an additional 396,859 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of First Data by 26.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 691,186 shares of the business services provider’s stock valued at $12,581,000 after purchasing an additional 146,577 shares in the last quarter. Institutional investors own 49.09% of the company’s stock.

Several research analysts recently issued reports on FDC shares. Barclays reiterated a “buy” rating and issued a $24.00 target price on shares of First Data in a research report on Tuesday. SunTrust Banks lowered their price objective on shares of First Data to $19.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets raised shares of First Data from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $21.50 in a research note on Monday, November 20th. Robert W. Baird reaffirmed a “hold” rating and set a $22.00 price objective on shares of First Data in a research note on Monday, November 13th. Finally, Zacks Investment Research raised shares of First Data from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $19.61.

In other news, CEO Frank Bisignano acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $16.82 per share, for a total transaction of $420,500.00. Following the transaction, the chief executive officer now directly owns 7,107,398 shares of the company’s stock, valued at $119,546,434.36. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andrew Gelb sold 7,473 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $127,937.76. Following the sale, the insider now owns 417,652 shares in the company, valued at $7,150,202.24. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 25,200 shares of company stock worth $423,964 and sold 77,445 shares worth $1,394,613. 6.30% of the stock is currently owned by company insiders.

First Data Corporation (NYSE FDC) traded up $0.25 on Thursday, reaching $16.50. 5,851,474 shares of the company’s stock traded hands, compared to its average volume of 4,464,152. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58. First Data Corporation has a fifty-two week low of $13.99 and a fifty-two week high of $19.23. The company has a market capitalization of $15,240.00 and a P/E ratio of 12.90.

First Data (NYSE:FDC) last released its quarterly earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. First Data had a net margin of 5.99% and a return on equity of 26.60%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned $0.34 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. research analysts expect that First Data Corporation will post 1.28 earnings per share for the current year.

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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.

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

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