GAM Holding AG Buys 17,644 Shares of First Data Corp (FDC)

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GAM Holding AG lifted its stake in shares of First Data Corp (NYSE:FDC) by 57.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,155 shares of the business services provider’s stock after acquiring an additional 17,644 shares during the quarter. GAM Holding AG’s holdings in First Data were worth $1,178,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Squar Milner Financial Services LLC grew its stake in shares of First Data by 820.3% during the 3rd quarter. Squar Milner Financial Services LLC now owns 7,519 shares of the business services provider’s stock valued at $184,000 after acquiring an additional 6,702 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of First Data during the 3rd quarter valued at approximately $190,000. Acadian Asset Management LLC bought a new position in shares of First Data during the 2nd quarter valued at approximately $171,000. IBM Retirement Fund bought a new position in shares of First Data during the 3rd quarter valued at approximately $215,000. Finally, Holderness Investments Co. bought a new position in shares of First Data during the 3rd quarter valued at approximately $215,000. Institutional investors own 56.29% of the company’s stock.

A number of research analysts recently issued reports on the company. Goldman Sachs Group boosted their price objective on First Data to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. They noted that the move was a valuation call. Stephens cut their price objective on First Data from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, November 5th. ValuEngine upgraded First Data from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Buckingham Research boosted their price target on First Data from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, October 26th. Finally, Robert W. Baird boosted their price target on First Data from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, October 19th. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. First Data presently has an average rating of “Buy” and a consensus price target of $27.04.

In other news, insider Barry C. Mccarthy sold 113,515 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $19.13, for a total transaction of $2,171,541.95. Following the sale, the insider now directly owns 368,571 shares of the company’s stock, valued at approximately $7,050,763.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barry C. Mccarthy sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $18.69, for a total value of $654,150.00. Following the sale, the insider now directly owns 368,571 shares in the company, valued at $6,888,591.99. The disclosure for this sale can be found here. Insiders have sold a total of 399,228 shares of company stock worth $8,614,395 over the last ninety days. Insiders own 5.60% of the company’s stock.

Shares of FDC opened at $17.72 on Friday. The company has a market cap of $17.27 billion, a PE ratio of 13.84, a PEG ratio of 1.60 and a beta of 1.93. First Data Corp has a 1 year low of $14.73 and a 1 year high of $26.62. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.02 and a current ratio of 1.02.

First Data (NYSE:FDC) last issued its quarterly earnings data on Monday, October 29th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.22 billion. First Data had a return on equity of 19.33% and a net margin of 17.48%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. As a group, equities analysts forecast that First Data Corp will post 1.19 EPS for the current fiscal year.

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First Data Company Profile

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.

Further Reading: Outstanding Shares and The Effect on Share Price

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

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