First Data (NYSE:FDC) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Monday, November 20th. The firm presently has a $21.50 target price on the business services provider’s stock, up from their prior target price of $19.00. BMO Capital Markets’ price target suggests a potential upside of 32.31% from the stock’s previous close.
FDC has been the topic of several other research reports. Zacks Investment Research raised First Data from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, August 2nd. BidaskClub downgraded First Data from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 price target on shares of First Data in a report on Friday, October 6th. Credit Suisse Group reiterated an “outperform” rating on shares of First Data in a report on Tuesday, September 5th. Finally, Barclays increased their price objective on First Data from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Eight analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. First Data currently has a consensus rating of “Buy” and a consensus price target of $19.63.
First Data (NYSE FDC) traded up $0.28 during midday trading on Monday, reaching $16.25. The company’s stock had a trading volume of 7,878,112 shares, compared to its average volume of 4,452,848. First Data has a one year low of $13.96 and a one year high of $19.23. The firm has a market capitalization of $15,043.26, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.10 and a beta of 1.51. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.02 and a quick ratio of 1.02.
First Data (NYSE:FDC) last announced its quarterly earnings results on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. First Data had a return on equity of 26.60% and a net margin of 5.99%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. equities research analysts predict that First Data will post 1.28 earnings per share for the current fiscal year.
In related news, insider Andrew Gelb sold 7,473 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $17.12, for a total value of $127,937.76. Following the completion of the sale, the insider now directly owns 417,652 shares of the company’s stock, valued at $7,150,202.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank Bisignano acquired 25,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $16.82 per share, with a total value of $420,500.00. Following the completion of the acquisition, the chief executive officer now owns 7,107,398 shares of the company’s stock, valued at $119,546,434.36. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 25,200 shares of company stock worth $423,964 and have sold 77,445 shares worth $1,394,613. Insiders own 6.30% of the company’s stock.
Large investors have recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of First Data by 4,509.6% during the second quarter. American Century Companies Inc. now owns 4,545,711 shares of the business services provider’s stock valued at $82,732,000 after purchasing an additional 4,447,098 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of First Data by 4.7% during the second quarter. Prudential Financial Inc. now owns 1,270,900 shares of the business services provider’s stock valued at $23,131,000 after purchasing an additional 57,600 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of First Data by 51.3% during the second quarter. Russell Investments Group Ltd. now owns 159,661 shares of the business services provider’s stock valued at $2,905,000 after purchasing an additional 54,118 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of First Data by 55.0% during the third quarter. BNP Paribas Arbitrage SA now owns 1,117,960 shares of the business services provider’s stock valued at $20,168,000 after purchasing an additional 396,859 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of First Data by 26.9% during the second quarter. Dimensional Fund Advisors LP now owns 691,186 shares of the business services provider’s stock valued at $12,581,000 after purchasing an additional 146,577 shares during the last quarter. 49.09% of the stock is owned by institutional investors.
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First Data 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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