First Data Corporation (FDC) Holdings Increased by Renaissance Technologies LLC
Renaissance Technologies LLC raised its position in First Data Corporation (NYSE:FDC) by 58.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,944,472 shares of the business services provider’s stock after acquiring an additional 717,866 shares during the quarter. Renaissance Technologies LLC owned approximately 0.52% of First Data Corporation worth $35,389,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its stake in First Data Corporation by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,153 shares of the business services provider’s stock valued at $157,000 after acquiring an additional 45 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in First Data Corporation by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock valued at $327,000 after acquiring an additional 348 shares during the last quarter. Comerica Bank lifted its stake in First Data Corporation by 3.1% in the first quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock valued at $202,000 after acquiring an additional 391 shares during the last quarter. Pacer Advisors Inc. lifted its stake 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. Finally, HL Financial Services LLC lifted its stake in First Data Corporation by 3.5% in the second quarter. HL Financial Services LLC now owns 17,950 shares of the business services provider’s stock valued at $327,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 39.13% of the company’s stock.
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A number of analysts have commented on FDC shares. Zacks Investment Research upgraded shares of First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, August 2nd. BidaskClub cut shares of First Data Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price target on shares of First Data Corporation in a research note on Thursday, August 24th. Credit Suisse Group reiterated an “outperform” rating on shares of First Data Corporation in a research note on Tuesday, September 5th. Finally, BTIG Research reiterated a “buy” rating and issued a $23.00 price target (up previously from $18.00) on shares of First Data Corporation in a research note on Monday, June 19th. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $19.05.
In other First Data Corporation news, insider Cynthia A. Armine-Klein sold 28,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $17.94, for a total transaction of $502,320.00. Following the sale, the insider now directly owns 596,052 shares of the company’s stock, valued at $10,693,172.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeff Shanahan acquired 118,135 shares of the company’s stock in a transaction 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 owns 1,122,038 shares of the company’s stock, valued at $19,983,496.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 340,217 shares of company stock worth $6,139,786 and have sold 151,830 shares worth $2,754,035. 6.30% of the stock is owned by corporate insiders.
First Data Corporation (FDC) opened at 17.74 on Thursday. The company’s 50-day moving average is $18.12 and its 200-day moving average is $17.34. First Data Corporation has a 52-week low of $13.01 and a 52-week high of $19.20. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 29.67 and a beta of 1.73.
First Data Corporation (NYSE:FDC) last issued its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.98 billion. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. On average, analysts expect that First Data Corporation will post $1.53 earnings per share for the current fiscal year.
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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