First Data Corp (FDC) Position Lifted by Garnet Equity Capital Holdings Inc.

Garnet Equity Capital Holdings Inc. boosted its position in shares of First Data Corp (NYSE:FDC) by 50.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 300,000 shares of the business services provider’s stock after purchasing an additional 100,000 shares during the quarter. First Data makes up 5.3% of Garnet Equity Capital Holdings Inc.’s portfolio, making the stock its 3rd biggest holding. Garnet Equity Capital Holdings Inc.’s holdings in First Data were worth $7,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gamco Investors INC. ET AL lifted its position in shares of First Data by 8.2% in the second quarter. Gamco Investors INC. ET AL now owns 27,600 shares of the business services provider’s stock valued at $578,000 after acquiring an additional 2,100 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of First Data by 7.4% in the second quarter. CIBC Asset Management Inc now owns 33,017 shares of the business services provider’s stock valued at $691,000 after acquiring an additional 2,285 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of First Data by 6.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 37,800 shares of the business services provider’s stock valued at $791,000 after acquiring an additional 2,292 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of First Data by 16.2% in the first quarter. PNC Financial Services Group Inc. now owns 22,367 shares of the business services provider’s stock valued at $358,000 after acquiring an additional 3,114 shares in the last quarter. Finally, World Asset Management Inc lifted its position in shares of First Data by 17.8% in the third quarter. World Asset Management Inc now owns 21,347 shares of the business services provider’s stock valued at $522,000 after acquiring an additional 3,228 shares in the last quarter. Institutional investors own 51.26% of the company’s stock.

FDC has been the topic of several recent research reports. Cowen restated a “buy” rating and issued a $28.00 price objective on shares of First Data in a research report on Tuesday, July 31st. SunTrust Banks restated a “buy” rating and issued a $29.00 price objective on shares of First Data in a research report on Tuesday, July 31st. BMO Capital Markets initiated coverage on First Data in a research report on Wednesday, September 26th. They issued a “market perform” rating and a $26.00 price objective on the stock. KeyCorp upped their price objective on First Data from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, July 20th. Finally, Zacks Investment Research upgraded First Data from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Wednesday, July 4th. Five research 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 $26.40.

NYSE:FDC traded up $0.83 on Friday, hitting $23.18. 674,962 shares of the stock were exchanged, compared to its average volume of 7,873,737. The firm has a market capitalization of $22.85 billion, a PE ratio of 17.53, a P/E/G ratio of 1.83 and a beta of 1.56. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. First Data Corp has a fifty-two week low of $14.73 and a fifty-two week high of $26.62.

First Data (NYSE:FDC) last announced its quarterly earnings results 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. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.20 billion. First Data had a return on equity of 21.88% and a net margin of 15.39%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. As a group, research analysts anticipate that First Data Corp will post 1.25 earnings per share for the current year.

In other First Data news, insider Barry C. Mccarthy sold 151,203 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $25.78, for a total transaction of $3,898,013.34. Following the completion of the sale, the insider now directly owns 484,774 shares in the company, valued at $12,497,473.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeff Shanahan sold 115,229 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $23.94, for a total value of $2,758,582.26. Following the sale, the insider now owns 256,100 shares of the company’s stock, valued at $6,131,034. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 294 shares of company stock valued at $7,132 and have sold 416,432 shares valued at $10,415,596. Corporate insiders own 5.60% of the company’s stock.

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

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