Commerce Bank Acquires 6,247 Shares of First Data Corporation (FDC)
Commerce Bank raised its stake in shares of First Data Corporation (NYSE:FDC) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,622,470 shares of the business services provider’s stock after buying an additional 6,247 shares during the period. Commerce Bank owned about 0.43% of First Data Corporation worth $29,529,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of FDC. Pacer Advisors Inc. raised its position in First Data Corporation by 8.9% in the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after buying an additional 452 shares during the last quarter. Tower Research Capital LLC TRC raised its position in First Data Corporation by 1,276.6% in the first quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock valued at $103,000 after buying an additional 6,153 shares during the last quarter. Independent Portfolio Consultants Inc. acquired a new position in First Data Corporation during the first quarter valued at $106,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in First Data Corporation during the second quarter valued at $135,000. Finally, Nordea Investment Management AB raised its position in First Data Corporation by 9.0% in the first quarter. Nordea Investment Management AB now owns 7,632 shares of the business services provider’s stock valued at $118,000 after buying an additional 632 shares during the last quarter. Institutional investors and hedge funds own 39.11% of the company’s stock.
First Data Corporation (NYSE:FDC) opened at 18.47 on Thursday. The firm has a market capitalization of $17.05 billion, a price-to-earnings ratio of 30.89 and a beta of 1.77. First Data Corporation has a 1-year low of $12.74 and a 1-year high of $19.20. The firm’s 50-day moving average is $18.28 and its 200-day moving average is $16.92.
First Data Corporation (NYSE:FDC) last announced its earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.06. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the business posted $0.35 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that First Data Corporation will post $1.53 EPS for the current year.
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Several equities analysts recently weighed in on the stock. Piper Jaffray Companies restated an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of First Data Corporation in a report on Thursday, August 10th. Morgan Stanley lifted their target price on shares of First Data Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. BidaskClub lowered shares of First Data Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Robert W. Baird reaffirmed a “hold” rating and set a $20.00 price target on shares of First Data Corporation in a research note on Friday, August 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price target on shares of First Data Corporation in a research note on Thursday, August 24th. Nine research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $18.82.
In related news, insider Jeff Shanahan bought 118,135 shares of First Data Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $17.81 per share, for a total transaction of $2,103,984.35. Following the completion of the acquisition, the insider now directly owns 1,122,038 shares of the company’s stock, valued at approximately $19,983,496.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 233,467 shares of company stock worth $4,187,983 over the last quarter. 6.30% of the stock is currently owned by company insiders.
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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