First Data Corp (FDC) Stake Raised by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of First Data Corp (NYSE:FDC) by 13.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 63,043 shares of the business services provider’s stock after buying an additional 7,301 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in First Data were worth $1,048,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of FDC. Canada Pension Plan Investment Board lifted its position in First Data by 117.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 14,791,789 shares of the business services provider’s stock worth $266,844,000 after buying an additional 7,979,289 shares in the last quarter. Iridian Asset Management LLC CT acquired a new position in First Data during the 3rd quarter worth about $121,916,000. Point72 Asset Management L.P. lifted its position in First Data by 1,230.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,574,786 shares of the business services provider’s stock worth $100,569,000 after buying an additional 5,155,686 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in First Data during the 3rd quarter worth about $54,501,000. Finally, Jana Partners LLC lifted its position in First Data by 35.2% during the 3rd quarter. Jana Partners LLC now owns 10,065,428 shares of the business services provider’s stock worth $181,580,000 after buying an additional 2,623,313 shares in the last quarter. Institutional investors and hedge funds own 49.19% of the company’s stock.
In related news, insider Andrew Gelb sold 7,473 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $17.12, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have purchased 300 shares of company stock valued at $5,124. 6.30% of the stock is owned by company insiders.
First Data (NYSE:FDC) last announced its quarterly earnings results on Monday, February 12th. The business services provider reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.11 billion. First Data had a return on equity of 26.90% and a net margin of 12.16%. First Data’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS. sell-side analysts predict that First Data Corp will post 1.31 earnings per share for the current year.
A number of research analysts have issued reports on the stock. BMO Capital Markets upped their target price on shares of First Data from $21.50 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday. BTIG Research restated a “buy” rating on shares of First Data in a research report on Tuesday. Cantor Fitzgerald restated a “hold” rating and set a $17.00 target price on shares of First Data in a research report on Monday. ValuEngine downgraded shares of First Data from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $26.00 target price on shares of First Data in a research report on Thursday, January 18th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. First Data has an average rating of “Buy” and an average target price of $20.23.
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First Data Company 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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