BlackRock Inc. grew its stake in shares of First Data Corp (NYSE:FDC) by 6.8% during the 3rd quarter, Holdings Channel reports. The firm owned 29,739,940 shares of the business services provider’s stock after buying an additional 1,897,915 shares during the period. BlackRock Inc.’s holdings in First Data were worth $727,737,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of First Data during the 2nd quarter worth approximately $171,000. Squar Milner Financial Services LLC increased its holdings in shares of First Data by 820.3% during the 3rd quarter. Squar Milner Financial Services LLC now owns 7,519 shares of the business services provider’s stock worth $184,000 after acquiring an additional 6,702 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of First Data during the 3rd quarter worth approximately $190,000. IBM Retirement Fund acquired a new position in shares of First Data during the 3rd quarter worth approximately $215,000. Finally, MML Investors Services LLC acquired a new position in shares of First Data during the 3rd quarter worth approximately $223,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on FDC. Zacks Investment Research lowered First Data from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Bank of America boosted their target price on First Data from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Piper Jaffray Companies reissued a “buy” rating and set a $37.00 target price on shares of First Data in a report on Thursday, September 27th. Wedbush boosted their target price on First Data from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, September 6th. Finally, Goldman Sachs Group boosted their target price on First Data to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. First Data presently has an average rating of “Buy” and a consensus price target of $27.04.
First Data (NYSE:FDC) last released its quarterly earnings results on Monday, October 29th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Data had a net margin of 17.48% and a return on equity of 19.33%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. On average, research analysts expect that First Data Corp will post 1.19 EPS for the current fiscal year.
In other news, insider Cynthia A. Armine-Klein sold 99,510 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $19.00, for a total transaction of $1,890,690.00. Following the completion of the sale, the insider now directly owns 662,767 shares in the company, valued at approximately $12,592,573. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Barry C. Mccarthy sold 151,203 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $25.78, for a total value of $3,898,013.34. Following the sale, the insider now owns 484,774 shares of the company’s stock, valued at $12,497,473.72. The disclosure for this sale can be found here. Insiders sold a total of 399,228 shares of company stock valued at $8,614,395 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.
First Data Company Profile
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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