Perella Weinberg Partners Capital Management LP Sells 60,725 Shares of First Data Corp (NYSE:FDC)

Perella Weinberg Partners Capital Management LP reduced its position in shares of First Data Corp (NYSE:FDC) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 940,323 shares of the business services provider’s stock after selling 60,725 shares during the quarter. First Data accounts for approximately 1.1% of Perella Weinberg Partners Capital Management LP’s investment portfolio, making the stock its 23rd biggest holding. Perella Weinberg Partners Capital Management LP owned approximately 0.10% of First Data worth $25,455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its position in First Data by 2.5% during the first quarter. BlackRock Inc. now owns 27,303,800 shares of the business services provider’s stock worth $717,270,000 after acquiring an additional 656,966 shares in the last quarter. JPMorgan Chase & Co. raised its position in First Data by 33.3% during the first quarter. JPMorgan Chase & Co. now owns 8,523,468 shares of the business services provider’s stock worth $223,911,000 after acquiring an additional 2,128,341 shares in the last quarter. Alpine Associates Management Inc. bought a new stake in First Data during the first quarter worth $194,137,000. Norges Bank bought a new stake in First Data during the fourth quarter worth $114,431,000. Finally, CNH Partners LLC bought a new stake in First Data during the first quarter worth $156,189,000. 53.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FDC stock remained flat at $$31.69 on Friday. 49,014,400 shares of the company traded hands, compared to its average volume of 9,698,800. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average price of $28.21. First Data Corp has a fifty-two week low of $15.52 and a fifty-two week high of $31.69. The company has a market capitalization of $29.91 billion, a P/E ratio of 26.19, a P/E/G ratio of 1.89 and a beta of 1.93.

First Data (NYSE:FDC) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.37 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. First Data had a net margin of 10.52% and a return on equity of 17.55%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the company posted $0.39 earnings per share. First Data’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts forecast that First Data Corp will post 1.39 EPS for the current year.

In related news, insider Michael K. Neborak sold 6,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $25.76, for a total value of $154,560.00. Following the transaction, the insider now directly owns 351,087 shares in the company, valued at $9,044,001.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael K. Neborak sold 111,707 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $26.66, for a total transaction of $2,978,108.62. Following the completion of the transaction, the insider now owns 434,723 shares in the company, valued at $11,589,715.18. The disclosure for this sale can be found here. Corporate insiders own 4.87% of the company’s stock.

Several research firms have issued reports on FDC. TheStreet raised shares of First Data from a “c+” rating to a “b” rating in a research report on Friday, July 26th. Zacks Investment Research raised shares of First Data from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, June 19th. Finally, BMO Capital Markets set a $29.00 price objective on shares of First Data and gave the company a “hold” rating in a report on Friday, July 26th. Nineteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. First Data has a consensus rating of “Hold” and a consensus price target of $25.18.

About First Data

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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