Canada Pension Plan Investment Board grew its holdings in shares of First Data Corporation (NYSE:FDC) by 117.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,791,789 shares of the business services provider’s stock after acquiring an additional 7,979,289 shares during the period. Canada Pension Plan Investment Board owned about 1.60% of First Data Corporation worth $266,844,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in FDC. Pacer Advisors Inc. raised its stake in First Data Corporation by 8.9% during the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after buying an additional 452 shares during the last quarter. Advisor Group Inc. grew its holdings in First Data Corporation by 113.3% in the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after purchasing an additional 2,964 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in First Data Corporation in the second quarter worth $135,000. Riverhead Capital Management LLC acquired a new stake in First Data Corporation in the second quarter worth $135,000. Finally, First Manhattan Co. grew its holdings in First Data Corporation by 200.0% in the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock worth $135,000 after purchasing an additional 5,000 shares during the period. 39.25% of the stock is owned by hedge funds and other institutional investors.
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In related news, insider Christopher M. Foskett sold 10,254 shares of First Data Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $18.40, for a total value of $188,673.60. Following the completion of the sale, the insider now directly owns 430,294 shares in the company, valued at $7,917,409.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeff Shanahan acquired 118,135 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $17.81 per share, with a total value of $2,103,984.35. Following the completion of the acquisition, the insider now directly owns 1,122,038 shares of the company’s stock, valued at $19,983,496.78. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 340,317 shares of company stock valued at $6,141,554 and sold 151,830 shares valued at $2,754,035. Insiders own 6.30% of the company’s stock.
First Data Corporation (NYSE:FDC) last released its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.08 billion. First Data Corporation had a return on equity of 26.60% and a net margin of 5.99%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share.
A number of equities research analysts have commented on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $22.00 price target on shares of First Data Corporation in a report on Wednesday, July 26th. Cantor Fitzgerald restated a “hold” rating and issued a $17.00 price target on shares of First Data Corporation in a report on Monday. Zacks Investment Research cut shares of First Data Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub cut shares of First Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, KeyCorp restated a “buy” rating and issued a $20.00 price target on shares of First Data Corporation in a report on Friday, October 27th. Nine analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. First Data Corporation presently has an average rating of “Buy” and a consensus target price of $19.55.
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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