Raymond James & Associates lifted its position in shares of First Data Corp (NYSE:FDC) by 180.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 406,122 shares of the business services provider’s stock after buying an additional 261,084 shares during the period. Raymond James & Associates’ holdings in First Data were worth $6,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its holdings in First Data by 335.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 71,461 shares of the business services provider’s stock worth $1,750,000 after purchasing an additional 55,044 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in First Data by 24.4% in the third quarter. Janney Montgomery Scott LLC now owns 51,276 shares of the business services provider’s stock valued at $1,255,000 after acquiring an additional 10,055 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in First Data by 10.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 68,103 shares of the business services provider’s stock valued at $1,666,000 after acquiring an additional 6,200 shares during the period. Commonwealth Equity Services LLC acquired a new stake in First Data in the third quarter valued at approximately $671,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in First Data in the third quarter valued at approximately $314,000. Institutional investors and hedge funds own 55.84% of the company’s stock.
Shares of NYSE:FDC opened at $25.45 on Friday. The company has a market cap of $24.05 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.36 and a beta of 2.28. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.02 and a current ratio of 1.02. First Data Corp has a 12-month low of $14.73 and a 12-month high of $26.62.
First Data (NYSE:FDC) last announced its earnings results on Wednesday, February 6th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.19 billion. First Data had a return on equity of 18.14% and a net margin of 10.58%. First Data’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. As a group, research analysts predict that First Data Corp will post 1.39 earnings per share for the current fiscal year.
A number of brokerages have commented on FDC. Zacks Investment Research cut First Data from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. Wells Fargo & Co cut First Data from an “outperform” rating to a “market perform” rating and set a $25.05 price objective for the company. in a research note on Tuesday, February 12th. BMO Capital Markets reissued a “hold” rating and issued a $25.64 price objective on shares of First Data in a research note on Thursday, February 7th. BTIG Research cut First Data from a “buy” rating to a “neutral” rating in a research note on Thursday, February 7th. Finally, Susquehanna Bancshares reissued a “neutral” rating and issued a $25.00 price objective (down previously from $29.00) on shares of First Data in a research note on Thursday, February 7th. Twenty analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $24.98.
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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