Davidson Kempner Capital Management LP Purchases New Holdings in First Data Corporation (FDC)

Davidson Kempner Capital Management LP purchased a new position in shares of First Data Corporation (NYSE:FDC) in the third quarter, according to its most recent filing with the SEC. The firm purchased 400,000 shares of the business services provider’s stock, valued at approximately $7,216,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of First Data by 8.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,679,266 shares of the business services provider’s stock valued at $594,763,000 after buying an additional 2,614,956 shares during the period. Bank of New York Mellon Corp grew its stake in shares of First Data by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 18,255,473 shares of the business services provider’s stock valued at $329,329,000 after buying an additional 289,758 shares during the period. BlackRock Inc. grew its stake in shares of First Data by 12.2% in the 2nd quarter. BlackRock Inc. now owns 15,870,199 shares of the business services provider’s stock valued at $288,835,000 after buying an additional 1,721,402 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of First Data by 117.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 14,791,789 shares of the business services provider’s stock valued at $266,844,000 after buying an additional 7,979,289 shares during the period. Finally, Glenview Capital Management LLC grew its stake in shares of First Data by 14.0% in the 2nd quarter. Glenview Capital Management LLC now owns 12,219,432 shares of the business services provider’s stock valued at $222,394,000 after buying an additional 1,500,000 shares during the period. Hedge funds and other institutional investors own 49.09% of the company’s stock.

First Data Corporation (FDC) traded down $0.10 during trading on Tuesday, hitting $16.42. 3,570,500 shares of the company’s stock traded hands, compared to its average volume of 4,459,949. First Data Corporation has a 1 year low of $13.99 and a 1 year high of $19.23. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $15,255.66, a PE ratio of 13.11, a P/E/G ratio of 1.12 and a beta of 1.51.

First Data (NYSE:FDC) last posted its earnings results on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. First Data had a net margin of 5.99% and a return on equity of 26.60%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the firm earned $0.34 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. sell-side analysts expect that First Data Corporation will post 1.28 EPS for the current fiscal year.

In other news, insider Andrew Gelb sold 7,473 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were 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 owns 417,652 shares in the company, valued at approximately $7,150,202.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cynthia A. Armine-Klein sold 28,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $17.94, for a total transaction of $502,320.00. Following the sale, the insider now owns 596,052 shares of the company’s stock, valued at approximately $10,693,172.88. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 25,200 shares of company stock valued at $423,964 and have sold 67,191 shares valued at $1,205,939. Company insiders own 6.30% of the company’s stock.

Several analysts have recently commented on the company. KeyCorp restated a “buy” rating and issued a $20.00 target price on shares of First Data in a research note on Friday, October 27th. Cowen reaffirmed a “buy” rating and issued a $20.00 price target on shares of First Data in a research report on Thursday, October 12th. ValuEngine cut shares of First Data from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BMO Capital Markets raised shares of First Data from a “market perform” rating to an “outperform” rating and raised their price target for the company from $19.00 to $21.50 in a research report on Monday, November 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.00 price target on shares of First Data in a research report on Friday, October 6th. Eight analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $19.61.

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First Data 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.

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

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