Assenagon Asset Management S.A. purchased a new position in First Data Corporation (NYSE:FDC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 190,955 shares of the business services provider’s stock, valued at approximately $3,475,000.
A number of other institutional investors have also modified their holdings of the company. Comerica Bank acquired a new position in shares of First Data Corporation during the fourth quarter worth $194,000. Creative Planning increased its stake in shares of First Data Corporation by 56.2% in the first quarter. Creative Planning now owns 23,200 shares of the business services provider’s stock worth $360,000 after buying an additional 8,350 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of First Data Corporation by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 313,570 shares of the business services provider’s stock worth $4,860,000 after buying an additional 1,500 shares in the last quarter. DnB Asset Management AS acquired a new stake in First Data Corporation during the first quarter worth $312,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in shares of First Data Corporation during the first quarter worth $3,315,000. 36.55% of the stock is owned by institutional investors and hedge funds.
Shares of First Data Corporation (NYSE FDC) traded down 0.29% during trading on Friday, reaching $17.47. 4,888,497 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $18.41 and its 200-day moving average price is $16.75. First Data Corporation has a 52-week low of $12.74 and a 52-week high of $19.20. The stock has a market cap of $16.12 billion, a PE ratio of 29.21 and a beta of 1.77.
First Data Corporation (NYSE:FDC) last posted its quarterly earnings data on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.06. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. On average, equities research analysts forecast that First Data Corporation will post $1.53 EPS for the current year.
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A number of equities research analysts recently weighed in on FDC shares. ValuEngine downgraded First Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Stifel Nicolaus began coverage on First Data Corporation in a research report on Thursday, June 1st. They set a “buy” rating and a $20.00 price target for the company. BTIG Research restated a “buy” rating and issued a $18.00 price objective on shares of First Data Corporation in a research report on Thursday, June 1st. Citigroup Inc. boosted their price objective on First Data Corporation from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Finally, Zacks Investment Research raised First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, July 21st. Nine investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.70.
About First Data Corporation
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.
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