Chickasaw Capital Management LLC Sells 4,000 Shares of First Data Corp (FDC)
Chickasaw Capital Management LLC lessened its stake in shares of First Data Corp (NYSE:FDC) by 27.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,350 shares of the business services provider’s stock after selling 4,000 shares during the quarter. Chickasaw Capital Management LLC’s holdings in First Data were worth $175,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. National Pension Service acquired a new position in shares of First Data in the third quarter worth about $154,000. Squar Milner Financial Services LLC lifted its stake in shares of First Data by 820.3% in the third quarter. Squar Milner Financial Services LLC now owns 7,519 shares of the business services provider’s stock worth $184,000 after acquiring an additional 6,702 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of First Data in the third quarter worth about $190,000. IBM Retirement Fund acquired a new position in shares of First Data in the third quarter worth about $215,000. Finally, Holderness Investments Co. acquired a new position in shares of First Data in the third quarter worth about $215,000. Institutional investors own 56.21% of the company’s stock.
FDC has been the topic of several recent analyst reports. SunTrust Banks reiterated a “buy” rating and issued a $27.00 price target on shares of First Data in a research note on Wednesday, October 31st. Piper Jaffray Companies reiterated a “buy” rating and issued a $37.00 price target on shares of First Data in a research note on Thursday, September 27th. Craig Hallum set a $35.00 price target on First Data and gave the stock a “buy” rating in a research note on Monday, October 29th. Buckingham Research boosted their price target on First Data from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, October 26th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $22.00 price target on shares of First Data in a research note on Monday, December 17th. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. First Data presently has an average rating of “Buy” and an average target price of $25.68.
NYSE FDC traded down $0.27 on Friday, hitting $17.28. 6,892,612 shares of the stock traded hands, compared to its average volume of 8,122,077. First Data Corp has a twelve month low of $14.73 and a twelve month high of $26.62. The stock has a market capitalization of $16.63 billion, a P/E ratio of 13.50, a PEG ratio of 1.34 and a beta of 1.74. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.47.
First Data (NYSE:FDC) last posted its earnings results on Monday, October 29th. The business services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.22 billion. First Data had a net margin of 17.48% and a return on equity of 19.33%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. On average, analysts anticipate that First Data Corp will post 1.2 EPS for the current year.
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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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