1,140,000 Shares in First Data Corp (NYSE:FDC) Bought by Chicago Capital Management LLC

Chicago Capital Management LLC bought a new position in First Data Corp (NYSE:FDC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,140,000 shares of the business services provider’s stock, valued at approximately $29,948,000. First Data accounts for approximately 13.7% of Chicago Capital Management LLC’s portfolio, making the stock its largest position. Chicago Capital Management LLC owned about 0.12% of First Data at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc grew its position in shares of First Data by 18.9% during the 3rd 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 last quarter. BlackRock Inc. grew its position in shares of First Data by 2.5% during the 1st quarter. BlackRock Inc. now owns 27,303,800 shares of the business services provider’s stock valued at $717,270,000 after buying an additional 656,966 shares during the last quarter. FMR LLC grew its position in shares of First Data by 20.2% during the 4th quarter. FMR LLC now owns 22,997,206 shares of the business services provider’s stock valued at $388,883,000 after buying an additional 3,869,263 shares during the last quarter. Nomura Holdings Inc. grew its position in shares of First Data by 4.1% during the 4th quarter. Nomura Holdings Inc. now owns 10,455,181 shares of the business services provider’s stock valued at $176,028,000 after buying an additional 413,390 shares during the last quarter. Finally, Sound Shore Management Inc. CT grew its position in shares of First Data by 7.8% during the 4th quarter. Sound Shore Management Inc. CT now owns 9,765,897 shares of the business services provider’s stock valued at $165,141,000 after buying an additional 704,684 shares during the last quarter. 53.21% of the stock is owned by hedge funds and other institutional investors.

Several research firms have commented on FDC. Zacks Investment Research upgraded shares of First Data from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Wednesday, June 19th. BMO Capital Markets upped their target price on shares of First Data from $25.64 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Nineteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $25.12.

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

Shares of FDC remained flat at $$27.07 during mid-day trading on Friday. 8,401,920 shares of the stock traded hands, compared to its average volume of 5,356,862. The firm’s fifty day simple moving average is $26.20. First Data Corp has a 52 week low of $15.52 and a 52 week high of $27.46. The company has a market capitalization of $25.55 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.62 and a beta of 2.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.27.

First Data (NYSE:FDC) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The business had revenue of $2.12 billion during 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%. First Data’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. As a group, analysts predict that First Data Corp will post 1.39 earnings per share for the current fiscal year.

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

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