OLD Mutual Customised Solutions Proprietary Ltd. lowered its stake in shares of First Data Corp (NYSE:FDC) by 49.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,400 shares of the business services provider’s stock after selling 5,300 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in First Data were worth $113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDC. Wells Fargo & Company MN boosted its stake in First Data by 148.0% during the first quarter. Wells Fargo & Company MN now owns 7,999,087 shares of the business services provider’s stock worth $127,986,000 after buying an additional 4,773,138 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in First Data by 3.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 461,166 shares of the business services provider’s stock worth $7,379,000 after buying an additional 13,404 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in First Data by 57.8% during the first quarter. State of Wisconsin Investment Board now owns 538,998 shares of the business services provider’s stock worth $8,624,000 after buying an additional 197,457 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in First Data by 5.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,660,087 shares of the business services provider’s stock worth $26,562,000 after buying an additional 80,349 shares during the last quarter. Finally, Tredje AP fonden boosted its stake in First Data by 19.7% during the first quarter. Tredje AP fonden now owns 52,530 shares of the business services provider’s stock worth $840,000 after buying an additional 8,640 shares during the last quarter. 51.27% of the stock is currently owned by institutional investors.

In related news, President Guy Chiarello sold 150,000 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $25.06, for a total transaction of $3,759,000.00. Following the completion of the transaction, the president now directly owns 1,408,272 shares of the company’s stock, valued at approximately $35,291,296.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff Shanahan sold 115,229 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $23.94, for a total value of $2,758,582.26. Following the transaction, the insider now directly owns 256,100 shares of the company’s stock, valued at $6,131,034. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

A number of research firms have weighed in on FDC. Wedbush boosted their price objective on First Data from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, September 6th. ValuEngine raised First Data from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Goldman Sachs Group boosted their price objective on First Data to $30.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research lowered First Data from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Atlantic Securities upgraded First Data from a “neutral” rating to an “overweight” rating in a research report on Friday, August 17th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. First Data currently has an average rating of “Buy” and a consensus target price of $25.69.

FDC stock opened at $25.77 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. The firm has a market capitalization of $24.50 billion, a P/E ratio of 20.13, a PEG ratio of 1.96 and a beta of 1.54. First Data Corp has a 12-month low of $14.73 and a 12-month high of $26.62.

First Data (NYSE:FDC) last posted its quarterly earnings data on Monday, July 30th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.20 billion. First Data had a return on equity of 21.88% and a net margin of 15.39%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. research analysts expect that First Data Corp will post 1.25 EPS for the current year.

About First Data

First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.

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

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