State of New Jersey Common Pension Fund D Cuts Position in First Data Corp (NYSE:FDC)

State of New Jersey Common Pension Fund D cut its stake in First Data Corp (NYSE:FDC) by 73.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 400,000 shares of the business services provider’s stock after selling 1,100,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in First Data were worth $10,828,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Piedmont Investment Advisors Inc. grew its position in First Data by 1.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 40,003 shares of the business services provider’s stock worth $1,051,000 after acquiring an additional 469 shares in the last quarter. Moors & Cabot Inc. grew its position in First Data by 2.5% in the second quarter. Moors & Cabot Inc. now owns 20,895 shares of the business services provider’s stock worth $567,000 after acquiring an additional 500 shares in the last quarter. Nisa Investment Advisors LLC grew its position in First Data by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 110,580 shares of the business services provider’s stock worth $2,993,000 after acquiring an additional 580 shares in the last quarter. First Hawaiian Bank grew its position in First Data by 5.5% in the second quarter. First Hawaiian Bank now owns 12,946 shares of the business services provider’s stock worth $350,000 after acquiring an additional 671 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its position in First Data by 0.8% in the first quarter. Gulf International Bank UK Ltd now owns 125,413 shares of the business services provider’s stock worth $3,294,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 53.28% of the company’s stock.

In other news, insider Michael K. Neborak sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $25.76, for a total transaction of $154,560.00. Following the sale, the insider now owns 351,087 shares in the company, valued at $9,044,001.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael K. Neborak sold 111,707 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 434,723 shares in the company, valued at approximately $11,589,715.18. The disclosure for this sale can be found here. 4.87% of the stock is currently owned by corporate insiders.

Shares of NYSE:FDC remained flat at $$31.69 during midday trading on Wednesday. 49,014,400 shares of the stock traded hands, compared to its average volume of 9,698,800. First Data Corp has a 52-week low of $15.52 and a 52-week high of $31.69. 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 stock has a 50 day simple moving average of $28.00. The company has a market cap of $29.91 billion, a PE ratio of 26.19, a PEG ratio of 1.89 and a beta of 1.93.

First Data (NYSE:FDC) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. First Data had a net margin of 10.52% and a return on equity of 17.55%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. First Data’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts expect that First Data Corp will post 1.39 earnings per share for the current year.

FDC has been the subject of several recent research reports. BMO Capital Markets set a $29.00 price target on shares of First Data and gave the stock a “hold” rating in a research note 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 for the company in a research note on Wednesday, June 19th. Finally, TheStreet raised shares of First Data from a “c+” rating to a “b” rating in a research note on Friday, July 26th. Nineteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. First Data presently has an average rating of “Hold” and a consensus target price of $25.26.

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

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