Oppenheimer & Co. Inc. boosted its stake in shares of First Data (NYSE:FDC) by 103.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 144,038 shares of the business services provider’s stock after buying an additional 73,126 shares during the period. Oppenheimer & Co. Inc.’s holdings in First Data were worth $2,305,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDC. Westside Investment Management Inc. purchased a new stake in First Data in the fourth quarter valued at $103,000. Pittenger & Anderson Inc. raised its position in First Data by 72.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 7,750 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 3,250 shares during the period. Cerebellum GP LLC purchased a new stake in First Data in the fourth quarter valued at $131,000. Deltec Asset Management LLC purchased a new stake in First Data in the fourth quarter valued at $167,000. Finally, National Pension Service purchased a new stake in First Data in the fourth quarter valued at $183,000. 50.12% of the stock is currently owned by institutional investors.
In related news, insider Anthony S. Marino sold 7,000 shares of the business’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $18.10, for a total transaction of $126,700.00. Following the completion of the transaction, the insider now directly owns 270,100 shares of the company’s stock, valued at approximately $4,888,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Gelb sold 10,000 shares of the business’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $18.40, for a total value of $184,000.00. Following the transaction, the insider now directly owns 422,024 shares of the company’s stock, valued at $7,765,241.60. The disclosure for this sale can be found here. Insiders have purchased a total of 300 shares of company stock valued at $4,745 over the last three months. 5.60% of the stock is currently owned by insiders.
A number of equities research analysts have commented on the company. Bank of America lifted their target price on First Data from $20.50 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, May 1st. Robert W. Baird lifted their target price on First Data from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 1st. KeyCorp lifted their target price on First Data from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, May 1st. Zacks Investment Research upgraded First Data from a “sell” rating to a “hold” rating and set a $21.00 target price on the stock in a research report on Thursday, May 3rd. Finally, ValuEngine downgraded First Data from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.48.
FDC stock opened at $19.19 on Tuesday. First Data has a 12-month low of $14.73 and a 12-month high of $19.45. The firm has a market capitalization of $17.67 billion, a P/E ratio of 14.45, a PEG ratio of 1.17 and a beta of 1.40. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88.
First Data (NYSE:FDC) last released its earnings results on Monday, April 30th. The business services provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. First Data had a return on equity of 23.21% and a net margin of 13.27%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm posted $0.28 EPS. First Data’s revenue for the quarter was down 18.5% on a year-over-year basis. research analysts expect that First Data will post 1.25 EPS for the current year.
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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