First Data (NYSE:FDC) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, November 20th. The firm currently has a $21.50 price objective on the business services provider’s stock, up from their previous price objective of $19.00. BMO Capital Markets’ price objective would suggest a potential upside of 32.31% from the stock’s current price.
Several other research firms have also recently weighed in on FDC. Piper Jaffray Companies reaffirmed a “buy” rating and set a $22.00 price objective on shares of First Data in a research report on Wednesday, July 26th. Cantor Fitzgerald reissued a “hold” rating and set a $17.00 price target on shares of First Data in a research report on Monday, October 30th. Zacks Investment Research cut First Data from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub lowered First Data from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, KeyCorp reiterated a “buy” rating and set a $20.00 target price on shares of First Data in a research note on Friday, October 27th. Eight research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $19.61.
First Data (FDC) remained flat at $$16.25 during midday trading on Monday. 5,722,031 shares of the stock were exchanged, compared to its average volume of 4,458,249. First Data has a 12 month low of $13.96 and a 12 month high of $19.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58. The firm has a market cap of $14,747.75, a P/E ratio of 12.68, a P/E/G ratio of 1.08 and a beta of 1.51.
First Data (NYSE:FDC) last posted its earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.08 billion. First Data had a return on equity of 26.60% and a net margin of 5.99%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. sell-side analysts expect that First Data will post 1.28 EPS for the current fiscal year.
In related news, insider Christopher M. Foskett sold 10,254 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $18.40, for a total value of $188,673.60. Following the completion of the transaction, the insider now directly owns 430,294 shares of the company’s stock, valued at $7,917,409.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frank Bisignano purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average cost 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 of the company’s stock, valued at $119,546,434.36. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 25,200 shares of company stock valued at $423,964 and sold 77,445 shares valued at $1,394,613. 6.30% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in FDC. Vanguard Group Inc. boosted its holdings in First Data by 8.7% in the second quarter. Vanguard Group Inc. now owns 32,679,266 shares of the business services provider’s stock worth $594,763,000 after purchasing an additional 2,614,956 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of First Data by 1.6% during the 3rd 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 during the period. BlackRock Inc. increased its holdings in First Data by 12.2% in the 2nd quarter. BlackRock Inc. now owns 15,870,199 shares of the business services provider’s stock valued at $288,835,000 after acquiring an additional 1,721,402 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in First Data by 117.1% in the 3rd 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 acquiring an additional 7,979,289 shares during the last quarter. Finally, Glenview Capital Management LLC increased its holdings in First Data by 14.0% in the 2nd quarter. Glenview Capital Management LLC now owns 12,219,432 shares of the business services provider’s stock valued at $222,394,000 after acquiring an additional 1,500,000 shares during the last quarter. 49.09% of the stock is owned by institutional investors.
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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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