Northern Trust Corp raised its stake in shares of First Data Corp (NYSE:FDC) by 6.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,818,913 shares of the business services provider’s stock after purchasing an additional 171,462 shares during the period. Northern Trust Corp’s holdings in First Data were worth $59,001,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board grew its holdings in First Data by 9.3% during the second quarter. Canada Pension Plan Investment Board now owns 16,508,357 shares of the business services provider’s stock valued at $345,520,000 after purchasing an additional 1,400,000 shares during the period. OppenheimerFunds Inc. grew its holdings in First Data by 95.9% during the second quarter. OppenheimerFunds Inc. now owns 11,790,919 shares of the business services provider’s stock valued at $246,783,000 after purchasing an additional 5,772,608 shares during the period. Senator Investment Group LP grew its holdings in First Data by 36.7% during the second quarter. Senator Investment Group LP now owns 10,250,000 shares of the business services provider’s stock valued at $214,532,000 after purchasing an additional 2,750,000 shares during the period. Standard Life Aberdeen plc lifted its position in shares of First Data by 0.6% in the second quarter. Standard Life Aberdeen plc now owns 6,262,911 shares of the business services provider’s stock valued at $131,177,000 after acquiring an additional 36,430 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of First Data by 129.8% in the second quarter. Millennium Management LLC now owns 6,182,051 shares of the business services provider’s stock valued at $129,390,000 after acquiring an additional 3,492,441 shares in the last quarter. 51.26% of the stock is owned by institutional investors and hedge funds.
NYSE:FDC opened at $23.73 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. The stock has a market capitalization of $22.85 billion, a P/E ratio of 18.54, a PEG ratio of 1.83 and a beta of 1.56. First Data Corp has a 12 month low of $14.73 and a 12 month high of $26.62.
First Data (NYSE:FDC) last posted its earnings results on Monday, July 30th. The business services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.20 billion. First Data had a return on equity of 21.88% and a net margin of 15.39%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. On average, equities research analysts anticipate that First Data Corp will post 1.25 EPS for the current year.
FDC has been the topic of several research analyst reports. Goldman Sachs Group boosted their price objective on First Data to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded First Data from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, August 7th. Atlantic Securities upgraded First Data from a “neutral” rating to an “overweight” rating in a research report on Friday, August 17th. Wedbush boosted their price objective on First Data from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, September 6th. Finally, Morgan Stanley boosted their price objective on First Data from $20.00 to $22.00 and gave the company a “$22.60” rating in a research report on Thursday, July 19th. Four analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.40.
In related news, President Guy Chiarello sold 150,000 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $25.06, for a total value of $3,759,000.00. Following the sale, the president now directly owns 1,408,272 shares in the company, valued at $35,291,296.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Barry C. Mccarthy sold 151,203 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $25.78, for a total value of $3,898,013.34. Following the completion of the sale, the insider now owns 484,774 shares in the company, valued at $12,497,473.72. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 294 shares of company stock worth $7,132 and sold 416,432 shares worth $10,415,596. 5.60% of the stock is currently owned by insiders.
First Data Profile
First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.
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