Commerce Bank Buys 14,417 Shares of First Data Corporation (FDC)
Commerce Bank lifted its stake in shares of First Data Corporation (NYSE:FDC) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,636,887 shares of the business services provider’s stock after purchasing an additional 14,417 shares during the period. Commerce Bank owned 0.18% of First Data Corporation worth $29,529,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings 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 acquiring an additional 452 shares during the last quarter. Advisor Group Inc. lifted its holdings in First Data Corporation by 113.3% in the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 2,964 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in First Data Corporation in the second quarter valued at approximately $135,000. Riverhead Capital Management LLC acquired a new position in First Data Corporation in the second quarter valued at approximately $135,000. Finally, First Manhattan Co. lifted its holdings in First Data Corporation by 200.0% in the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 40.89% of the company’s stock.
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First Data Corporation (NYSE:FDC) traded down $0.14 during trading on Thursday, hitting $16.74. The stock had a trading volume of 6,937,800 shares, compared to its average volume of 4,438,597. First Data Corporation has a 1-year low of $13.96 and a 1-year high of $19.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58. The stock has a market capitalization of $15,460.00 and a price-to-earnings ratio of 13.40.
First Data Corporation (NYSE:FDC) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. First Data Corporation had a return on equity of 26.60% and a net margin of 5.99%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the company earned $0.34 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. equities research analysts expect that First Data Corporation will post 1.29 EPS for the current year.
In other First Data Corporation news, insider Jeff Shanahan bought 34,284 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were purchased at an average price of $18.44 per share, with a total value of $632,196.96. Following the completion of the acquisition, the insider now directly owns 1,340,434 shares of the company’s stock, valued at approximately $24,717,602.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank Bisignano bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $16.82 per share, for a total transaction of $420,500.00. Following the acquisition, the chief executive officer now directly owns 7,107,398 shares of the company’s stock, valued at $119,546,434.36. The disclosure for this purchase can be found here. In the last three months, insiders purchased 247,182 shares of company stock worth $4,458,069 and sold 151,830 shares worth $2,754,035. Corporate insiders own 6.30% of the company’s stock.
FDC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Friday, July 21st. Piper Jaffray Companies reiterated a “buy” rating and issued a $22.00 price objective on shares of First Data Corporation in a report on Wednesday, July 26th. BidaskClub cut First Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Craig Hallum reiterated a “buy” rating and issued a $25.00 price objective (up from $20.00) on shares of First Data Corporation in a report on Tuesday, August 8th. Finally, Morgan Stanley upped their price objective on First Data Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $19.55.
First Data Corporation Profile
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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