First Data Corporation (NYSE:FDC) Short Interest Update

First Data Corporation (NYSE:FDC) was the recipient of a significant decrease in short interest in the month of September. As of September 29th, there was short interest totalling 22,748,088 shares, a decrease of 29.0% from the September 15th total of 32,051,890 shares. Currently, 6.7% of the company’s shares are sold short. Based on an average daily volume of 8,172,573 shares, the days-to-cover ratio is presently 2.8 days.

A number of research analysts have recently weighed in on FDC shares. Zacks Investment Research raised First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Friday, July 21st. Credit Suisse Group reissued an “outperform” rating on shares of First Data Corporation in a research report on Tuesday, September 5th. ValuEngine downgraded First Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Cowen and Company reaffirmed a “buy” rating and issued a $20.00 price objective on shares of First Data Corporation in a research report on Thursday, October 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $22.00 target price on shares of First Data Corporation in a report on Wednesday, July 26th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.52.

In related news, insider Jeff Shanahan purchased 118,135 shares of First Data Corporation stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $17.81 per share, for a total transaction of $2,103,984.35. Following the completion of the acquisition, the insider now directly owns 1,122,038 shares of the company’s stock, valued at $19,983,496.78. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Barry C. Mccarthy sold 81,858 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $18.17, for a total value of $1,487,359.86. Following the transaction, the insider now owns 406,890 shares of the company’s stock, valued at $7,393,191.30. The disclosure for this sale can be found here. In the last three months, insiders have bought 340,317 shares of company stock valued at $6,141,554 and have sold 151,830 shares valued at $2,754,035. Corporate insiders own 6.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in FDC. Envestnet Asset Management Inc. lifted its position in shares of First Data Corporation by 0.4% during the first quarter. Envestnet Asset Management Inc. now owns 10,153 shares of the business services provider’s stock worth $157,000 after purchasing an additional 45 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of First Data Corporation by 2.0% during the second quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock worth $327,000 after purchasing an additional 348 shares in the last quarter. Comerica Bank lifted its position in shares of First Data Corporation by 3.1% during the first quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock worth $202,000 after purchasing an additional 391 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of First Data Corporation by 8.9% during the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after purchasing an additional 452 shares in the last quarter. Finally, HL Financial Services LLC lifted its position in shares of First Data Corporation by 3.5% during the second quarter. HL Financial Services LLC now owns 17,950 shares of the business services provider’s stock worth $327,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 39.20% of the company’s stock.

Shares of First Data Corporation (FDC) opened at 18.97 on Friday. The company has a 50-day moving average price of $18.17 and a 200 day moving average price of $17.66. First Data Corporation has a one year low of $13.01 and a one year high of $19.23. The firm has a market capitalization of $17.51 billion, a P/E ratio of 31.72 and a beta of 1.73.

First Data Corporation (NYSE:FDC) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.06. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Analysts expect that First Data Corporation will post $1.53 earnings per share for the current fiscal year.

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About First Data Corporation

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.

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