Todd Asset Management LLC Raises Position in First Data Corporation (FDC)

Todd Asset Management LLC increased its position in shares of First Data Corporation (NYSE:FDC) by 49.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 730,823 shares of the business services provider’s stock after acquiring an additional 242,207 shares during the period. Todd Asset Management LLC owned about 0.08% of First Data Corporation worth $13,184,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FDC. PNC Financial Services Group Inc. grew its position in shares of First Data Corporation by 2.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock valued at $327,000 after buying an additional 348 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of First Data Corporation by 8.9% in the 2nd quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after buying an additional 452 shares during the last quarter. HL Financial Services LLC grew its position in shares of First Data Corporation by 3.5% in the 2nd quarter. HL Financial Services LLC now owns 17,950 shares of the business services provider’s stock valued at $327,000 after buying an additional 600 shares during the last quarter. First Allied Advisory Services Inc. grew its position in shares of First Data Corporation by 4.4% in the 2nd quarter. First Allied Advisory Services Inc. now owns 16,538 shares of the business services provider’s stock valued at $300,000 after buying an additional 691 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of First Data Corporation by 5.7% during the 2nd quarter. M&T Bank Corp now owns 16,680 shares of the business services provider’s stock valued at $303,000 after purchasing an additional 895 shares in the last quarter. Institutional investors and hedge funds own 40.89% of the company’s stock.

Several brokerages recently commented on FDC. Robert W. Baird restated a “hold” rating and set a $22.00 target price on shares of First Data Corporation in a research report on Monday. Zacks Investment Research raised First Data Corporation from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Nomura dropped their price target on First Data Corporation from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. BTIG Research reaffirmed a “buy” rating and set a $23.00 price target on shares of First Data Corporation in a research note on Tuesday, October 31st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $17.00 price target on shares of First Data Corporation in a research note on Monday, October 30th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $19.55.

Shares of First Data Corporation (NYSE:FDC) traded down $0.25 during midday trading on Wednesday, reaching $16.88. The company’s stock had a trading volume of 4,685,900 shares, compared to its average volume of 4,427,237. First Data Corporation has a 1-year low of $13.96 and a 1-year high of $19.23. The company has a market capitalization of $15,818.97, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.69. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.58.

First Data Corporation (NYSE:FDC) last announced its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the company earned $0.34 earnings per share. First Data Corporation’s revenue was up 4.8% compared to the same quarter last year. equities research analysts anticipate that First Data Corporation will post 1.29 earnings per share for the current fiscal year.

In related news, CEO Frank Bisignano purchased 25,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was purchased at an average cost of $16.82 per share, with a total value of $420,500.00. Following the completion of 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas Joseph Higgins sold 31,718 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $18.15, for a total value of $575,681.70. Following the completion of the transaction, the insider now directly owns 347,493 shares of the company’s stock, valued at $6,306,997.95. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 247,182 shares of company stock valued at $4,458,069 and sold 151,830 shares valued at $2,754,035. 6.30% of the stock is owned by company insiders.

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About First Data Corporation

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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