First Data (NYSE:FDC) had its price target raised by BMO Capital Markets from $21.50 to $22.00 in a research report report published on Tuesday. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.
A number of other brokerages have also recently commented on FDC. Cantor Fitzgerald reaffirmed a hold rating and issued a $17.00 target price on shares of First Data in a report on Monday, October 30th. Zacks Investment Research raised First Data from a sell rating to a hold rating in a report on Friday, October 27th. KeyCorp reissued a buy rating and set a $20.00 price target on shares of First Data in a report on Friday, October 27th. Wedbush raised First Data from a neutral rating to an outperform rating and decreased their price target for the company from $25.00 to $20.00 in a report on Friday, October 20th. Finally, SunTrust Banks reissued a buy rating on shares of First Data in a report on Friday, October 20th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. First Data currently has a consensus rating of Buy and an average target price of $20.23.
First Data (NYSE FDC) opened at $15.50 on Tuesday. First Data has a twelve month low of $14.67 and a twelve month high of $19.23. The company has a market capitalization of $15,070.96, a price-to-earnings ratio of 12.55, a P/E/G ratio of 0.96 and a beta of 1.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58.
First Data (NYSE:FDC) last announced its earnings results on Monday, February 12th. The business services provider reported $0.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.44. First Data had a return on equity of 26.90% and a net margin of 12.16%. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period last year, the firm earned $0.39 EPS. First Data’s revenue for the quarter was up 7.0% compared to the same quarter last year. analysts anticipate that First Data will post 1.31 earnings per share for the current year.
In other news, insider Andrew Gelb sold 7,473 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $127,937.76. Following the completion of the transaction, the insider now owns 417,652 shares in the company, valued at $7,150,202.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 300 shares of company stock valued at $5,124. Company insiders own 6.30% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of First Data by 8.6% during the fourth quarter. BlackRock Inc. now owns 22,617,758 shares of the business services provider’s stock valued at $377,942,000 after purchasing an additional 1,784,859 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of First Data by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 18,255,473 shares of the business services provider’s stock valued at $329,329,000 after purchasing an additional 289,758 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of First Data by 117.1% during the third quarter. Canada Pension Plan Investment Board now owns 14,791,789 shares of the business services provider’s stock valued at $266,844,000 after purchasing an additional 7,979,289 shares in the last quarter. Jana Partners LLC grew its position in shares of First Data by 35.2% during the third quarter. Jana Partners LLC now owns 10,065,428 shares of the business services provider’s stock valued at $181,580,000 after purchasing an additional 2,623,313 shares in the last quarter. Finally, Iridian Asset Management LLC CT grew its position in shares of First Data by 31.8% during the fourth quarter. Iridian Asset Management LLC CT now owns 8,905,329 shares of the business services provider’s stock valued at $148,808,000 after purchasing an additional 2,147,260 shares in the last quarter. Hedge funds and other institutional investors own 49.19% of the company’s stock.
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About First Data
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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