First Data Corporation (NYSE:FDC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “
Several other research firms have also issued reports on FDC. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.00 price objective on shares of First Data Corporation in a research note on Thursday, August 24th. Piper Jaffray Companies restated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of First Data Corporation in a research report on Thursday, August 10th. Barclays PLC boosted their target price on shares of First Data Corporation from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Credit Suisse Group restated an “outperform” rating on shares of First Data Corporation in a research report on Tuesday, September 5th. Finally, BidaskClub downgraded shares of First Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Nine investment 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 an average price target of $19.55.
Shares of First Data Corporation (NYSE FDC) traded up $0.32 during mid-day trading on Friday, reaching $17.07. 4,473,300 shares of the company traded hands, compared to its average volume of 4,426,710. The stock has a market capitalization of $15,763.56, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.15 and a beta of 1.69. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.58. First Data Corporation has a 12 month low of $13.96 and a 12 month high of $19.23.
First Data Corporation (NYSE:FDC) last issued its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $0.34 earnings per share. First Data Corporation’s revenue was up 4.8% compared to the same quarter last year. analysts anticipate that First Data Corporation will post 1.29 EPS for the current fiscal year.
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In other First Data Corporation news, insider Christopher M. Foskett sold 10,254 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $18.40, for a total transaction of $188,673.60. Following the transaction, the insider now directly owns 430,294 shares of the company’s stock, valued at approximately $7,917,409.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank Bisignano acquired 25,000 shares of the stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $16.82 per share, for a total transaction of $420,500.00. Following the completion of the transaction, the chief executive officer now directly owns 7,107,398 shares in the company, valued at approximately $119,546,434.36. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 365,317 shares of company stock worth $6,562,054 and sold 151,830 shares worth $2,754,035. Corporate insiders own 6.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in shares of First Data Corporation by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,153 shares of the business services provider’s stock valued at $157,000 after purchasing an additional 45 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of First Data Corporation by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 348 shares during the period. Comerica Bank lifted its stake in shares of First Data Corporation by 3.1% in the first quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock valued at $202,000 after purchasing an additional 391 shares during the period. Pacer Advisors Inc. lifted its stake in shares of First Data Corporation by 8.9% in the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 452 shares during the period. Finally, HL Financial Services LLC lifted its stake in shares of First Data Corporation by 3.5% in the second quarter. HL Financial Services LLC now owns 17,950 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 40.89% 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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