Gabelli Funds LLC Boosts Stock Position in First Data Corp (NYSE:FDC)

Gabelli Funds LLC raised its position in shares of First Data Corp (NYSE:FDC) by 47.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,080,551 shares of the business services provider’s stock after purchasing an additional 348,900 shares during the quarter. Gabelli Funds LLC’s holdings in First Data were worth $29,251,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FDC. Investors Research Corp purchased a new stake in shares of First Data in the first quarter worth about $39,000. Signaturefd LLC boosted its position in First Data by 116.6% during the first quarter. Signaturefd LLC now owns 3,716 shares of the business services provider’s stock worth $98,000 after purchasing an additional 2,000 shares in the last quarter. Bremer Bank National Association purchased a new position in First Data during the first quarter worth approximately $98,000. Flagship Harbor Advisors LLC boosted its position in First Data by 102.1% during the second quarter. Flagship Harbor Advisors LLC now owns 3,789 shares of the business services provider’s stock worth $102,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Financial Management Professionals Inc. acquired a new position in shares of First Data during the first quarter valued at approximately $129,000. Institutional investors and hedge funds own 53.28% of the company’s stock.

In related news, insider Michael K. Neborak sold 111,707 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $26.66, for a total value of $2,978,108.62. Following the sale, the insider now owns 434,723 shares of the company’s stock, valued at approximately $11,589,715.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael K. Neborak sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $25.76, for a total value of $154,560.00. Following the completion of the sale, the insider now directly owns 351,087 shares in the company, valued at approximately $9,044,001.12. The disclosure for this sale can be found here. 4.87% of the stock is owned by insiders.

FDC stock remained flat at $$31.69 during trading on Monday. First Data Corp has a 12-month low of $15.52 and a 12-month high of $31.69. The business’s 50 day simple moving average is $29.65 and its 200 day simple moving average is $26.73. The stock has a market capitalization of $29.91 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 1.89 and a beta of 1.93. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.01 and a current ratio of 1.01.

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

Several research firms recently commented on FDC. TheStreet raised First Data from a “c+” rating to a “b” rating in a report on Friday, July 26th. BMO Capital Markets set a $29.00 price target on First Data and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Zacks Investment Research raised First Data from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, June 19th. Nineteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. First Data has a consensus rating of “Hold” and an average price target of $25.09.

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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