Zacks Investment Research upgraded shares of First Data Corporation (NYSE:FDC) from a sell rating to a hold rating in a report released on Thursday.
According to Zacks, “First Data Corporation is a commerce-enabling technology and solutions company. The company's third-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. “
Other analysts have also issued research reports about the stock. Piper Jaffray Companies reiterated an overweight rating and set a $23.00 price objective (up previously from $22.00) on shares of First Data Corporation in a research note on Thursday, August 10th. KeyCorp reaffirmed a buy rating and issued a $20.00 price objective on shares of First Data Corporation in a report on Friday, October 27th. Morgan Stanley lifted their price objective on shares of First Data Corporation from $19.00 to $20.00 and gave the stock an equal weight rating in a report on Tuesday, August 8th. BidaskClub downgraded shares of First Data Corporation from a buy rating to a hold rating in a report on Saturday, August 12th. Finally, BTIG Research reissued a buy rating and set a $23.00 price target on shares of First Data Corporation in a report on Tuesday. Nine analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $19.55.
Shares of First Data Corporation (FDC) traded up $0.07 during trading hours on Thursday, hitting $17.13. 7,040,000 shares of the stock were exchanged, compared to its average volume of 6,960,000. First Data Corporation has a fifty-two week low of $13.01 and a fifty-two week high of $19.23. The stock has a market capitalization of $15,820.00 and a price-to-earnings ratio of 13.54. The company has a current ratio of 1.02, a quick ratio of 1.07 and a debt-to-equity ratio of 3.58.
First Data Corporation (NYSE:FDC) last released its earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.08 billion. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. sell-side analysts expect that First Data Corporation will post 1.29 EPS for the current fiscal year.
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In related news, insider Thomas Joseph Higgins sold 31,718 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $18.15, for a total transaction of $575,681.70. Following the sale, the insider now owns 347,493 shares in the company, valued at approximately $6,306,997.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cynthia A. Armine-Klein sold 28,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $17.94, for a total value of $502,320.00. Following the sale, the insider now owns 596,052 shares in the company, valued at approximately $10,693,172.88. The disclosure for this sale can be found here. In the last quarter, insiders acquired 340,317 shares of company stock worth $6,141,554 and sold 151,830 shares worth $2,754,035. Insiders own 6.30% of the company’s stock.
Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of First Data Corporation by 2.0% during 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 acquiring an additional 348 shares during the last quarter. Pacer Advisors Inc. boosted its holdings 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 worth $101,000 after acquiring an additional 452 shares during the period. HL Financial Services LLC boosted its holdings 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 worth $327,000 after acquiring an additional 600 shares during the period. First Allied Advisory Services Inc. boosted its stake in First Data Corporation by 4.4% during the second quarter. First Allied Advisory Services Inc. now owns 16,538 shares of the business services provider’s stock valued at $300,000 after buying an additional 691 shares during the period. Finally, Independent Portfolio Consultants Inc. boosted its stake in First Data Corporation by 11.9% during the second quarter. Independent Portfolio Consultants Inc. now owns 7,687 shares of the business services provider’s stock valued at $140,000 after buying an additional 817 shares during the period. 39.25% of the stock is owned by hedge funds and other institutional investors.
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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