Emerald Advisers Inc. PA bought a new position in First Data Corporation (NYSE:FDC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 34,420 shares of the business services provider’s stock, valued at approximately $626,000.
A number of other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in First Data Corporation by 1,276.6% in the first quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock worth $103,000 after buying an additional 6,153 shares during the period. Independent Portfolio Consultants Inc. acquired a new position in First Data Corporation during the first quarter worth about $106,000. Nordea Investment Management AB raised its position in First Data Corporation by 9.0% in the first quarter. Nordea Investment Management AB now owns 7,632 shares of the business services provider’s stock worth $118,000 after buying an additional 632 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in 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 worth $119,000 after buying an additional 3,400 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in First Data Corporation by 7.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,571 shares of the business services provider’s stock worth $124,000 after buying an additional 616 shares in the last quarter. Institutional investors own 37.54% of the company’s stock.
Shares of First Data Corporation (NYSE:FDC) opened at 17.81 on Friday. The stock has a market cap of $16.44 billion, a price-to-earnings ratio of 29.78 and a beta of 1.77. First Data Corporation has a one year low of $12.74 and a one year high of $19.20. The company has a 50-day moving average of $18.30 and a 200 day moving average of $16.83.
First Data Corporation (NYSE:FDC) last released its quarterly earnings data on Monday, August 7th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the business posted $0.35 earnings per share. First Data Corporation’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that First Data Corporation will post $1.53 earnings per share for the current fiscal year.
A number of research firms have issued reports on FDC. BidaskClub lowered shares of First Data Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Piper Jaffray Companies reissued an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of First Data Corporation in a research report on Thursday, August 10th. Morgan Stanley raised their price target on shares of First Data Corporation from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. Craig Hallum reissued a “buy” rating and set a $25.00 price target (up from $20.00) on shares of First Data Corporation in a research report on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Wednesday, August 2nd. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $18.70.
In other news, insider Jeff Shanahan purchased 118,135 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average price of $17.81 per share, for a total transaction of $2,103,984.35. Following the completion of the transaction, the insider now directly owns 1,122,038 shares in the company, valued at approximately $19,983,496.78. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company 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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