First Allied Advisory Services Inc. increased its stake in First Data Corp (NYSE:FDC) by 96.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 25,650 shares of the business services provider’s stock after buying an additional 12,583 shares during the quarter. First Allied Advisory Services Inc.’s holdings in First Data were worth $542,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FDC. Schwab Charles Investment Management Inc. raised its stake in First Data by 8.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,805,267 shares of the business services provider’s stock valued at $37,785,000 after acquiring an additional 145,180 shares during the period. Systematic Financial Management LP bought a new stake in shares of First Data during the second quarter valued at about $13,088,000. Russell Investments Group Ltd. increased its position in shares of First Data by 47.7% during the second quarter. Russell Investments Group Ltd. now owns 794,513 shares of the business services provider’s stock valued at $16,628,000 after buying an additional 256,428 shares during the period. Canada Pension Plan Investment Board increased its position in shares of 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 buying an additional 1,400,000 shares during the period. Finally, Quantitative Systematic Strategies LLC increased its position in shares of First Data by 20.8% during the second quarter. Quantitative Systematic Strategies LLC now owns 45,256 shares of the business services provider’s stock valued at $947,000 after buying an additional 7,792 shares during the period. 51.30% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “hold” rating and set a $17.00 price target on shares of First Data in a research report on Wednesday, June 13th. Zacks Investment Research upgraded First Data from a “sell” rating to a “hold” rating and set a $21.00 price target on the stock in a research report on Thursday, May 3rd. Stephens reiterated a “buy” rating and set a $27.00 price target on shares of First Data in a research report on Wednesday, August 1st. Bank of America upped their price target on First Data from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Finally, Credit Suisse Group upped their price target on First Data from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, June 13th. Four analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. First Data has a consensus rating of “Buy” and a consensus price target of $25.31.

Shares of NYSE FDC opened at $25.15 on Friday. First Data Corp has a 12 month low of $14.73 and a 12 month high of $25.57. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.77. The stock has a market cap of $23.60 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.89 and a beta of 1.48.

First Data (NYSE:FDC) last issued its quarterly earnings data on Monday, July 30th. The business services provider reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. First Data had a return on equity of 21.88% and a net margin of 15.39%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. First Data’s revenue was up 11.1% on a year-over-year basis. sell-side analysts anticipate that First Data Corp will post 1.25 EPS for the current year.

In other First Data news, insider Thomas Joseph Higgins sold 20,785 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $19.66, for a total value of $408,633.10. Following the completion of the sale, the insider now owns 309,100 shares of the company’s stock, valued at $6,076,906. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher M. Foskett sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $21.77, for a total value of $380,975.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 300 shares of company stock valued at $6,780 and have sold 303,514 shares valued at $7,307,190. 5.60% of the stock is currently owned by insiders.

About First Data

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

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