Sumitomo Mitsui Asset Management Company LTD cut its position in shares of First Data Corporation (NYSE:FDC) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,463 shares of the business services provider’s stock after selling 704 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in First Data Corporation were worth $481,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its stake in shares of 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 worth $157,000 after buying an additional 45 shares in the last quarter. Comerica Bank boosted its stake in shares of First Data Corporation by 3.1% in the first quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock worth $202,000 after buying an additional 391 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of First Data Corporation by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 97,940 shares of the business services provider’s stock worth $1,518,000 after buying an additional 600 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of First Data Corporation by 7.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,571 shares of the business services provider’s stock worth $124,000 after buying an additional 616 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of 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 worth $118,000 after buying an additional 632 shares in the last quarter. Institutional investors own 36.55% of the company’s stock.

First Data Corporation (NYSE FDC) opened at 17.52 on Friday. First Data Corporation has a one year low of $12.74 and a one year high of $19.20. The firm has a market cap of $16.17 billion, a price-to-earnings ratio of 29.30 and a beta of 1.77. The company’s 50-day moving average price is $18.44 and its 200-day moving average price is $16.74.

First Data Corporation (NYSE:FDC) last announced its earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. On average, analysts anticipate that First Data Corporation will post $1.53 EPS for the current year.

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A number of equities research analysts have weighed in on the company. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 price objective (up previously from $22.00) on shares of First Data Corporation in a research note on Thursday. Morgan Stanley boosted their price objective on First Data Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday. FIX assumed coverage on First Data Corporation in a research note on Thursday, May 18th. They issued an “outperform” rating and a $18.00 price objective for the company. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $19.00 price objective (up previously from $18.00) on shares of First Data Corporation in a research note on Wednesday, May 10th. Finally, Zacks Investment Research upgraded 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 Friday, July 21st. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. First Data Corporation has an average rating of “Buy” and an average target price of $18.70.

First Data Corporation Company 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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Institutional Ownership by Quarter for First Data Corporation (NYSE:FDC)

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