GAM Holding AG increased its holdings in First Data Corp (NYSE:FDC) by 57.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,155 shares of the business services provider’s stock after acquiring an additional 17,644 shares during the quarter. GAM Holding AG’s holdings in First Data were worth $1,178,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in FDC. Acadian Asset Management LLC purchased a new stake in First Data in the second quarter worth $171,000. Squar Milner Financial Services LLC lifted its position in First Data by 820.3% during the third quarter. Squar Milner Financial Services LLC now owns 7,519 shares of the business services provider’s stock valued at $184,000 after buying an additional 6,702 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in First Data during the third quarter valued at $190,000. IBM Retirement Fund purchased a new position in First Data during the third quarter valued at $215,000. Finally, Holderness Investments Co. purchased a new position in First Data during the third quarter valued at $215,000. 56.29% of the stock is owned by institutional investors.
In related news, insider Barry C. Mccarthy sold 113,515 shares of First Data stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $19.13, for a total value of $2,171,541.95. Following the completion of the sale, the insider now directly owns 368,571 shares in the company, valued at approximately $7,050,763.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Cynthia A. Armine-Klein sold 99,510 shares of First Data stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $19.00, for a total value of $1,890,690.00. Following the completion of the sale, the insider now owns 662,767 shares of the company’s stock, valued at $12,592,573. The disclosure for this sale can be found here. In the last ninety days, insiders sold 399,228 shares of company stock valued at $8,614,395. 5.60% of the stock is owned by insiders.
Several equities analysts have commented on the company. ValuEngine lowered First Data from a “hold” rating to a “sell” rating in a research report on Tuesday, November 20th. Cantor Fitzgerald reissued a “hold” rating and set a $20.00 price objective (down previously from $23.00) on shares of First Data in a research report on Monday, October 29th. Craig Hallum set a $35.00 price objective on First Data and gave the company a “buy” rating in a research report on Monday, October 29th. Barclays assumed coverage on First Data in a research report on Wednesday, November 14th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, Bank of America raised their price objective on First Data from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Five research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $27.04.
FDC opened at $17.72 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $17.27 billion, a PE ratio of 13.84, a P/E/G ratio of 1.60 and a beta of 1.93. First Data Corp has a 1 year low of $14.73 and a 1 year high of $26.62.
First Data (NYSE:FDC) last posted its quarterly earnings results on Monday, October 29th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.22 billion. First Data had a return on equity of 19.33% and a net margin of 17.48%. First Data’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. Sell-side analysts forecast that First Data Corp will post 1.19 earnings per share for the current fiscal year.
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First Data 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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