Nomura Cuts First Data Corporation (FDC) Price Target to $16.00

First Data Corporation (NYSE:FDC) had its price target reduced by Nomura from $17.00 to $16.00 in a research report released on Wednesday morning. They currently have a neutral rating on the business services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. BTIG Research reaffirmed a buy rating and set a $23.00 price objective on shares of First Data Corporation in a report on Tuesday. Cantor Fitzgerald reiterated a hold rating and issued a $17.00 target price on shares of First Data Corporation in a research note on Monday, October 30th. Zacks Investment Research upgraded shares of First Data Corporation from a sell rating to a hold rating in a research note on Friday, October 27th. KeyCorp reiterated a buy rating and issued a $20.00 target price on shares of First Data Corporation in a research note on Friday, October 27th. Finally, Wedbush upgraded shares of First Data Corporation from a neutral rating to an outperform rating and cut their target price for the company from $25.00 to $20.00 in a research note 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’s stock. The company has an average rating of Buy and a consensus price target of $19.55.

Shares of First Data Corporation (NYSE:FDC) opened at $17.13 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.02 and a debt-to-equity ratio of 3.58. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 1.15 and a beta of 1.69.

First Data Corporation (NYSE:FDC) last released its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.08 billion. First Data Corporation had a return on equity of 26.60% and a net margin of 5.99%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. equities research analysts predict 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 Barry C. Mccarthy sold 81,858 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 406,890 shares in the company, valued at approximately $7,393,191.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeff Shanahan bought 118,135 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price of $17.81 per share, with a total value of $2,103,984.35. Following the transaction, the insider now directly owns 1,122,038 shares in the company, valued at approximately $19,983,496.78. The disclosure for this purchase can be found here. In the last quarter, 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. Insiders own 6.30% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. raised its position 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 acquiring an additional 452 shares during the last quarter. Advisor Group Inc. raised its position 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 acquiring an additional 2,964 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of First Data Corporation during the 2nd quarter valued at $135,000. Riverhead Capital Management LLC bought a new stake in shares of First Data Corporation during the 2nd quarter valued at $135,000. Finally, First Manhattan Co. raised its position in shares of First Data Corporation by 200.0% during the 3rd quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 5,000 shares during the last quarter. 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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