First Data Corporation (NYSE:FDC)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a research report issued on Tuesday. They presently have a $23.00 target price on the business services provider’s stock. BTIG Research’s price target would suggest a potential upside of 29.14% from the stock’s previous close.
The analysts wrote, “Progress on North America GBS, Deleveraging Pauses While much of investors’ focus on First Data Corporation (FDC) has been on the turnaround of the company’s North America Global Business Solutions (GBS) unit, during 3Q17 it was strong growth in the company’s Global Financial Solutions (GFS) and Network and Security Solutions (NSS) segment that drove a modest total segment EBITDA beat.””
A number of other research firms also recently commented on FDC. Zacks Investment Research raised shares of First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Friday, July 21st. Credit Suisse Group reaffirmed an “outperform” rating on shares of First Data Corporation in a report on Tuesday, September 5th. Cowen and Company reaffirmed a “buy” rating and issued a $20.00 price target on shares of First Data Corporation in a report on Thursday, October 12th. ValuEngine lowered shares of First Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Wedbush raised shares of First Data Corporation from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $25.00 to $20.00 in a research report on Friday, October 20th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $19.55.
First Data Corporation (NYSE:FDC) last issued its earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.08 billion. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share.
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In related news, insider Barry C. Mccarthy sold 81,858 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $18.17, for a total transaction of $1,487,359.86. Following the transaction, the insider now owns 406,890 shares of the company’s stock, valued at $7,393,191.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeff Shanahan acquired 118,135 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $17.81 per share, for a total transaction of $2,103,984.35. Following the transaction, the insider now owns 1,122,038 shares of the company’s stock, valued at approximately $19,983,496.78. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 340,317 shares of company stock valued at $6,141,554 and sold 151,830 shares valued at $2,754,035. Company insiders own 6.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in FDC. Comerica Bank boosted its stake in First Data Corporation by 3.1% during the first quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock worth $202,000 after buying an additional 391 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in First Data Corporation by 336.6% during the first quarter. Ameriprise Financial Inc. now owns 77,887 shares of the business services provider’s stock worth $1,207,000 after buying an additional 60,047 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in First Data Corporation by 0.4% during the first quarter. Envestnet Asset Management Inc. now owns 10,153 shares of the business services provider’s stock worth $157,000 after buying an additional 45 shares in the last quarter. Stifel Financial Corp acquired a new stake in First Data Corporation during the first quarter worth $315,000. Finally, Alliancebernstein L.P. boosted its stake in First Data Corporation by 2.1% during the first quarter. Alliancebernstein L.P. now owns 180,691 shares of the business services provider’s stock worth $2,801,000 after buying an additional 3,670 shares in the last quarter. Institutional investors and hedge funds 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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