Dynamic Technology Lab Private Ltd raised its stake in shares of First Data Corp (NYSE:FDC) by 60.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,879 shares of the business services provider’s stock after acquiring an additional 23,403 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in First Data were worth $1,514,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of First Data by 129.8% during 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 during the period. Principal Financial Group Inc. lifted its holdings in shares of First Data by 14.4% during the first quarter. Principal Financial Group Inc. now owns 69,606 shares of the business services provider’s stock valued at $1,114,000 after acquiring an additional 8,762 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of First Data by 139.6% during the second quarter. GSA Capital Partners LLP now owns 68,904 shares of the business services provider’s stock valued at $1,442,000 after acquiring an additional 40,148 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of First Data by 110.4% during the second quarter. PNC Financial Services Group Inc. now owns 47,054 shares of the business services provider’s stock valued at $984,000 after acquiring an additional 24,687 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of First Data during the second quarter valued at $696,000. 56.29% of the stock is owned by institutional investors.
Shares of FDC stock opened at $17.72 on Friday. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $17.27 billion, a P/E ratio of 13.84, a PEG ratio of 1.60 and a beta of 1.93. First Data Corp has a 12 month low of $14.73 and a 12 month high of $26.62.
First Data (NYSE:FDC) last announced its quarterly earnings data on Monday, October 29th. The business services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.22 billion. First Data had a return on equity of 19.33% and a net margin of 17.48%. First Data’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. Equities analysts anticipate that First Data Corp will post 1.19 earnings per share for the current fiscal year.
FDC has been the subject of a number of analyst reports. Goldman Sachs Group lifted their price objective on First Data to $30.00 and gave the company a “buy” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. Atlantic Securities raised First Data from a “neutral” rating to an “overweight” rating in a report on Friday, August 17th. Wedbush lifted their price target on First Data from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, September 6th. Nomura lifted their price target on First Data from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, October 17th. Finally, ValuEngine cut First Data from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $27.04.
In related news, insider Barry C. Mccarthy sold 35,000 shares of First Data stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $18.69, for a total value of $654,150.00. Following the completion of the sale, the insider now directly owns 368,571 shares in the company, valued at $6,888,591.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Barry C. Mccarthy sold 151,203 shares of First Data 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 of the company’s stock, valued at $12,497,473.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 399,228 shares of company stock valued at $8,614,395. Corporate insiders own 5.60% of the company’s stock.
First Data Company 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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