First Data Corporation (NYSE:FDC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, October 27th.
According to Zacks, “First Data Corporation is a commerce-enabling technology and solutions company. The company's second-quarter 2017 earnings matched the Zacks Consensus Estimate and increased year over year. First Data’s focus on globalizing its offerings, acquisitions and strategic partnerships and a healthy business around large and small banks are positives. However, the company is subject to seasonality and foreign exchange risk and has no intention of paying cash dividend at present. Year to date, the stock has outperformed the industry it belongs to. “
A number of other equities analysts have also weighed in on FDC. Piper Jaffray Companies reissued an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of First Data Corporation in a report on Thursday, August 10th. BidaskClub downgraded shares of First Data Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Morgan Stanley raised their target price on shares of First Data Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 8th. Buckingham Research started coverage on shares of First Data Corporation in a research note on Monday, October 2nd. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $25.00 target price (up from $20.00) on shares of First Data Corporation in a research note on Tuesday, August 8th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. First Data Corporation presently has a consensus rating of “Buy” and a consensus price target of $19.55.
Shares of First Data Corporation (NYSE:FDC) traded up $0.32 during mid-day trading on Friday, hitting $17.07. 4,473,300 shares of the stock traded hands, compared to its average volume of 4,426,710. The stock has a market capitalization of $15,468.06, a P/E ratio of 13.29, a P/E/G ratio of 1.13 and a beta of 1.69. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.02 and a current ratio of 1.02. First Data Corporation has a 52 week low of $13.96 and a 52 week high of $19.23.
First Data Corporation (NYSE:FDC) last posted its quarterly earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.08 billion. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. equities research analysts predict that First Data Corporation will post 1.29 earnings per share for the current year.
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In other news, insider Jeff Shanahan purchased 77,453 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average cost of $18.04 per share, for a total transaction of $1,397,252.12. Following the purchase, the insider now directly owns 1,160,964 shares in the company, valued at approximately $20,943,790.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank Bisignano purchased 25,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were purchased at an average price of $16.82 per share, with a total value of $420,500.00. Following the completion of the purchase, the chief executive officer now owns 7,107,398 shares in the company, valued at $119,546,434.36. The disclosure for this purchase can be found here. In the last three months, insiders acquired 365,317 shares of company stock valued at $6,562,054 and sold 151,830 shares valued at $2,754,035. 6.30% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in FDC. Pacer Advisors Inc. grew its stake in shares of First Data Corporation by 8.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 452 shares during the period. Advisor Group Inc. grew its stake in shares of First Data Corporation by 113.3% during the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 2,964 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of First Data Corporation by 1,276.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 6,153 shares during the period. Macquarie Group Ltd. bought a new position in shares of First Data Corporation during the 3rd quarter valued at approximately $117,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of First Data Corporation during the 2nd quarter valued at approximately $135,000. Institutional investors own 40.37% 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.
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