State Board of Administration of Florida Retirement System Buys 41,220 Shares of First Data Corp (FDC)

State Board of Administration of Florida Retirement System Buys 41,220 Shares of First Data Corp (FDC)

State Board of Administration of Florida Retirement System increased its stake in shares of First Data Corp (NYSE:FDC) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 660,858 shares of the business services provider’s stock after purchasing an additional 41,220 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in First Data were worth $17,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of First Data by 669.5% during the third quarter. AQR Capital Management LLC now owns 106,849 shares of the business services provider’s stock valued at $2,615,000 after buying an additional 92,963 shares during the period. Teachers Advisors LLC increased its position in shares of First Data by 86.1% during the third quarter. Teachers Advisors LLC now owns 1,961,144 shares of the business services provider’s stock valued at $47,989,000 after buying an additional 907,329 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of First Data by 76.7% during the third quarter. TIAA CREF Investment Management LLC now owns 2,853,568 shares of the business services provider’s stock valued at $69,827,000 after buying an additional 1,238,455 shares during the period. Morgan Stanley increased its position in shares of First Data by 55.8% during the third quarter. Morgan Stanley now owns 8,211,648 shares of the business services provider’s stock valued at $200,939,000 after buying an additional 2,939,632 shares during the period. Finally, Vanguard Group Inc increased its position in shares of First Data by 18.9% during the third quarter. Vanguard Group Inc now owns 46,971,246 shares of the business services provider’s stock valued at $1,149,387,000 after buying an additional 7,465,388 shares during the period. 56.26% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE FDC opened at $25.12 on Thursday. The company has a market capitalization of $24.01 billion, a PE ratio of 20.76, a PEG ratio of 1.32 and a beta of 2.21. First Data Corp has a 52-week low of $15.52 and a 52-week high of $27.15. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.01 and a current ratio of 1.01.

First Data (NYSE:FDC) last issued its earnings results on Tuesday, April 30th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.04. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. First Data had a net margin of 11.26% and a return on equity of 18.04%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, research analysts anticipate that First Data Corp will post 1.39 earnings per share for the current year.

In other news, insider Ivo M. Distelbrink sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $25.36, for a total value of $507,200.00. Following the transaction, the insider now owns 274,114 shares in the company, valued at $6,951,531.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew Gelb sold 38,625 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 432,951 shares in the company, valued at approximately $11,213,430.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 375,384 shares of company stock worth $9,680,575. Insiders own 4.87% of the company’s stock.

Several equities analysts recently issued reports on FDC shares. Craig Hallum reduced their price target on shares of First Data from $35.00 to $27.00 and set a “fair value” rating on the stock in a research report on Thursday, January 17th. Piper Jaffray Companies lowered shares of First Data from an “overweight” rating to a “neutral” rating in a research note on Wednesday, February 6th. Barclays lowered shares of First Data from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $24.00 to $23.00 in a research note on Tuesday, January 22nd. Wells Fargo & Co lowered shares of First Data from an “outperform” rating to a “market perform” rating and set a $25.05 price objective on the stock. in a research note on Tuesday, February 12th. Finally, Cowen lowered shares of First Data from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $28.00 to $22.74 in a research note on Thursday, January 17th. Twenty equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $25.19.

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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