Ontario Teachers Pension Plan Board Lowers stake in First Data Corp (FDC)

First Data Corp (FDC) : Ontario Teachers Pension Plan Board reduced its stake in First Data Corp by 17.12% during the most recent quarter end. The investment management company now holds a total of 8,194,292 shares of First Data Corp which is valued at $118,981,120 after selling 1,692,100 shares in First Data Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.First Data Corp makes up approximately 1.23% of Ontario Teachers Pension Plan Board’s portfolio.

Other Hedge Funds, Including , Glenview Capital Management boosted its stake in FDC in the latest quarter, The investment management firm added 4,285,775 additional shares and now holds a total of 11,537,629 shares of First Data Corp which is valued at $167,526,373. First Data Corp makes up approx 1.19% of Glenview Capital Management’s portfolio. Convergence Investment Partners sold out all of its stake in FDC during the most recent quarter. The investment firm sold 168,950 shares of FDC which is valued $2,388,953. Espalier Global Management added FDC to its portfolio by purchasing 181,007 company shares during the most recent quarter which is valued at $2,559,439. First Data Corp makes up approx 6.84% of Espalier Global Management’s portfolio.Tiaa Cref Investment Management reduced its stake in FDC by selling 163,603 shares or 9.87% in the most recent quarter. The Hedge Fund company now holds 1,493,941 shares of FDC which is valued at $21,602,387. First Data Corp makes up approx 0.02% of Tiaa Cref Investment Management’s portfolio. Assetmark Inc sold out all of its stake in FDC during the most recent quarter. The investment firm sold 3 shares of FDC which is valued $40.

On the company’s financial health, First Data Corp reported $0.34 EPS for the quarter, based on the information available during the earnings call on Nov 7, 2016. Analyst had a consensus estimate of $0.34. The company had revenue of $2936.00 million for the quarter, compared to analysts expectations of $2986.19 million. The company’s revenue was up .5% compared to the same quarter last year.

Many Wall Street Analysts have commented on First Data Corp. Company shares were Reiterated by Mizuho on Nov 8, 2016 to “Buy”, Firm has raised the Price Target to $ 17 from a previous price target of $16 .Wedbush Initiated First Data Corp on Sep 9, 2016 to “Neutral”, Price Target of the shares are set at $15.Jefferies Initiated First Data Corp on Aug 31, 2016 to “Buy”, Price Target of the shares are set at $16.50.

First Data Corporation is a United States-based company which provides electronic commerce and payment solutions for merchants financial institutions and card issuers. The Company provides services including merchant transaction processing and acquiring; credit retail and debit card issuing and processing; prepaid services and check verification settlement and guarantee services. It operates through three segments: Merchant Solutions which includes merchant acquiring and processing services prepaid services and check verification settlement and guarantee services; Financial Services which consists of credit and retail card processing services; debit network and processing services; output services and other services including remittance processing and International which consists of credit retail debit and prepaid card processing; merchant acquiring and processing and automated teller machine and point of sale (POS) processing acquiring and switching services.

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