Cantor Fitzgerald Reaffirms Hold Rating for First Data Corporation (FDC)

First Data Corporation (NYSE:FDC)‘s stock had its “hold” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Monday. They presently have a $17.00 price target on the business services provider’s stock. Cantor Fitzgerald’s price target points to a potential downside of 10.38% from the stock’s current price.

A number of other research firms have also recently commented on FDC. Piper Jaffray Companies reaffirmed a “buy” rating and set a $22.00 target price on shares of First Data Corporation in a research note on Wednesday, July 26th. Zacks Investment Research cut First Data Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub cut First Data Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. KeyCorp reaffirmed a “buy” rating and set a $20.00 target price on shares of First Data Corporation in a research note on Friday. Finally, Credit Suisse Group upped their target price on First Data Corporation from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.52.

First Data Corporation (NYSE FDC) traded down 5.403% during midday trading on Monday, reaching $17.945. The company’s stock had a trading volume of 9,711,540 shares. The company’s 50-day moving average is $18.20 and its 200 day moving average is $17.70. First Data Corporation has a 12-month low of $13.01 and a 12-month high of $19.23. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of 30.008 and a beta of 1.74.

First Data Corporation (NYSE:FDC) last released its earnings results on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.08 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Equities analysts forecast that First Data Corporation will post $1.53 earnings per share for the current year.

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In other First Data Corporation news, insider Thomas Joseph Higgins sold 31,718 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $18.15, for a total transaction of $575,681.70. Following the completion of the sale, the insider now owns 347,493 shares in the company, valued at $6,306,997.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeff Shanahan bought 77,453 shares of the stock in a transaction on Wednesday, August 23rd. The shares were bought at an average price of $18.04 per share, with a total value of $1,397,252.12. Following the acquisition, the insider now owns 1,160,964 shares of the company’s stock, valued at $20,943,790.56. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 340,317 shares of company stock valued at $6,141,554 and have sold 151,830 shares valued at $2,754,035. 6.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings 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 purchasing an additional 452 shares during the last quarter. Advisor Group Inc. lifted its holdings 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 purchasing an additional 2,964 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 purchasing an additional 6,153 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of First Data Corporation during the 2nd quarter valued at $135,000. Finally, Riverhead Capital Management LLC purchased a new stake in shares of First Data Corporation during the 2nd quarter valued at $135,000. Institutional investors own 39.25% 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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