Quantitative Systematic Strategies LLC Takes Position in First Data Corp (NYSE:FDC)

Quantitative Systematic Strategies LLC purchased a new position in First Data Corp (NYSE:FDC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 33,746 shares of the business services provider’s stock, valued at approximately $887,000.

Several other institutional investors have also recently modified their holdings of FDC. Prudential Financial Inc. lifted its stake in First Data by 37.8% during the third quarter. Prudential Financial Inc. now owns 46,300 shares of the business services provider’s stock valued at $1,133,000 after buying an additional 12,700 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in First Data by 14.4% during the third quarter. Bank of New York Mellon Corp now owns 12,192,568 shares of the business services provider’s stock valued at $298,352,000 after buying an additional 1,536,267 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in First Data by 21.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,652,974 shares of the business services provider’s stock valued at $40,444,000 after buying an additional 295,105 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in First Data by 7.1% during the third quarter. Allianz Asset Management GmbH now owns 143,450 shares of the business services provider’s stock valued at $3,510,000 after buying an additional 9,526 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of First Data by 29.8% in the third quarter. LPL Financial LLC now owns 81,196 shares of the business services provider’s stock worth $1,987,000 after purchasing an additional 18,663 shares in the last quarter. Hedge funds and other institutional investors own 56.40% of the company’s stock.

In other news, insider Andrew Gelb sold 38,625 shares of First Data stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $25.90, for a total transaction of $1,000,387.50. Following the transaction, the insider now owns 432,951 shares in the company, valued at approximately $11,213,430.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Charron sold 74,600 shares of First Data stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $25.62, for a total value of $1,911,252.00. Following the transaction, the insider now owns 432,951 shares in the company, valued at approximately $11,092,204.62. The disclosure for this sale can be found here. Insiders have sold a total of 375,384 shares of company stock valued at $9,680,575 over the last 90 days. Corporate insiders own 4.87% of the company’s stock.

FDC stock traded down $0.26 during midday trading on Thursday, reaching $25.16. The stock had a trading volume of 30,217,525 shares, compared to its average volume of 13,352,564. The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.37 and a beta of 2.21. First Data Corp has a twelve month low of $15.52 and a twelve month high of $27.15. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.27.

First Data (NYSE:FDC) last posted its earnings results on Tuesday, April 30th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. First Data had a return on equity of 18.04% and a net margin of 11.26%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 EPS. Sell-side analysts predict that First Data Corp will post 1.39 earnings per share for the current fiscal year.

FDC has been the subject of a number of research analyst reports. Craig Hallum reduced their price target on shares of First Data from $35.00 to $27.00 and set a “fair value” rating for the company in a research report on Thursday, January 17th. Tigress Financial downgraded First Data from a “buy” rating to a “neutral” rating in a report on Friday, January 25th. Goldman Sachs Group cut First Data from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $23.00 in a research report on Wednesday, January 16th. Cantor Fitzgerald increased their price objective on First Data to $25.00 and gave the company a “neutral” rating in a research report on Thursday, February 7th. Finally, Barclays cut First Data from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $24.00 to $23.00 in a research report on Tuesday, January 22nd. Twenty equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $25.19.

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First Data Company Profile

First Data Corporation provides commerce enabled technology and solutions for merchants, financial institutions, and card issuers in the United States, Canada, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company operates through three segments: Global Business Solutions, Global Financial Solutions, and Network & Security Solutions.

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

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