Robert W. Baird Boosts First Data Corporation (FDC) Price Target to $22.00

First Data Corporation (NYSE:FDC) had its price target raised by Robert W. Baird from $20.00 to $22.00 in a research note issued to investors on Thursday morning. The firm currently has a neutral rating on the business services provider’s stock.

FDC has been the subject of a number of other research reports. Zacks Investment Research raised First Data Corporation from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Wednesday, August 2nd. BidaskClub cut First Data Corporation from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a buy rating and set a $21.00 price target on shares of First Data Corporation in a report on Friday, October 6th. Credit Suisse Group reissued an outperform rating on shares of First Data Corporation in a report on Tuesday, September 5th. Finally, Barclays PLC boosted their price target on First Data Corporation from $22.00 to $24.00 and gave the stock an overweight rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $19.35.

Shares of First Data Corporation (NYSE:FDC) traded up 0.46% during mid-day trading on Thursday, hitting $17.62. The stock had a trading volume of 6,959,724 shares. First Data Corporation has a 52 week low of $13.01 and a 52 week high of $19.20. The stock has a 50 day moving average price of $18.10 and a 200 day moving average price of $17.47. The firm has a market cap of $16.26 billion, a PE ratio of 29.46 and a beta of 1.73.

First Data Corporation (NYSE:FDC) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the firm earned $0.35 EPS. First Data Corporation’s revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that First Data Corporation will post $1.53 EPS for the current fiscal year.

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In other First Data Corporation news, insider Cynthia A. Armine-Klein sold 28,000 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $17.94, for a total value of $502,320.00. Following the sale, the insider now owns 596,052 shares in the company, valued at approximately $10,693,172.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Joseph Higgins sold 31,718 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $18.15, for a total value of $575,681.70. Following the completion of the sale, the insider now owns 347,493 shares in the company, valued at approximately $6,306,997.95. The disclosure for this sale can be found here. In the last quarter, insiders acquired 340,217 shares of company stock worth $6,139,786 and sold 151,830 shares worth $2,754,035. Insiders own 6.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. North Star Asset Management Inc. grew its position in shares of First Data Corporation by 1.2% in the 2nd quarter. North Star Asset Management Inc. now owns 333,801 shares of the business services provider’s stock valued at $6,075,000 after buying an additional 3,860 shares during the last quarter. Seminole Management Co. Inc. bought a new stake in shares of First Data Corporation in the 2nd quarter valued at about $17,141,000. Sterling Capital Management LLC grew its position in shares of First Data Corporation by 1.0% in the 2nd quarter. Sterling Capital Management LLC now owns 148,173 shares of the business services provider’s stock valued at $2,697,000 after buying an additional 1,523 shares during the last quarter. California State Teachers Retirement System grew its position in shares of First Data Corporation by 9.3% in the 2nd quarter. California State Teachers Retirement System now owns 679,589 shares of the business services provider’s stock valued at $12,369,000 after buying an additional 57,957 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of First Data Corporation by 12.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 31,106 shares of the business services provider’s stock valued at $566,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 39.13% of the company’s stock.

First Data Corporation Company Profile

First Data Corporation is a provider of commerce-enabling technology and solutions for merchants, financial institutions and card issuers. The Company’s segments are Global Business Solutions (GBS), Global Financial Solutions (GFS), Network & Security Solutions (NSS), and Corporate. The GBS segment provides businesses of all sizes and types with a range of solutions at the point of sale, including merchant acquiring, e-commerce, mobile commerce, point-of-sale, and other business solutions.

Analyst Recommendations for First Data Corporation (NYSE:FDC)

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