First Data Corporation (FDC) Shares Bought by Rhumbline Advisers
Rhumbline Advisers raised its stake in First Data Corporation (NYSE:FDC) by 15.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 408,016 shares of the business services provider’s stock after buying an additional 54,577 shares during the period. Rhumbline Advisers’ holdings in First Data Corporation were worth $7,426,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of FDC. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of First Data Corporation by 7.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,382 shares of the business services provider’s stock valued at $750,000 after buying an additional 3,436 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in shares of First Data Corporation during the first quarter valued at approximately $214,000. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of First Data Corporation by 26.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,167 shares of the business services provider’s stock valued at $421,000 after buying an additional 5,666 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of First Data Corporation by 445.4% in the first quarter. Russell Investments Group Ltd. now owns 105,543 shares of the business services provider’s stock valued at $1,635,000 after buying an additional 86,192 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its position in shares of First Data Corporation by 79.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,700 shares of the business services provider’s stock valued at $119,000 after buying an additional 3,400 shares in the last quarter. Institutional investors own 37.54% of the company’s stock.
Shares of First Data Corporation (NYSE:FDC) opened at 18.16 on Friday. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 30.37 and a beta of 1.77. The firm has a 50 day moving average price of $18.28 and a 200-day moving average price of $16.92. First Data Corporation has a 52-week low of $12.74 and a 52-week high of $19.20.
First Data Corporation (NYSE:FDC) last announced its earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the company earned $0.35 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that First Data Corporation will post $1.53 earnings per share for the current year.
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Several analysts recently weighed in on FDC shares. Piper Jaffray Companies reissued a “buy” rating and set a $22.00 price target on shares of First Data Corporation in a report on Wednesday, July 26th. Zacks Investment Research cut First Data Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub cut First Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Credit Suisse Group lifted their price target on First Data Corporation from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Finally, Morgan Stanley cut First Data Corporation from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $18.00 to $19.00 in a report on Wednesday, June 28th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $18.82.
In other news, insider Jeff Shanahan acquired 118,135 shares of First Data Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average cost of $17.81 per share, with a total value of $2,103,984.35. Following the transaction, the insider now directly owns 1,122,038 shares of the company’s stock, valued at approximately $19,983,496.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.30% of the company’s stock.
About First Data Corporation
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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