First Data Corporation (NYSE:FDC)‘s stock had its “buy” rating reaffirmed by analysts at Cowen and Company in a note issued to investors on Thursday. They currently have a $20.00 price target on the business services provider’s stock. Cowen and Company’s price objective points to a potential upside of 12.17% from the company’s previous close.

Several other analysts also recently commented on FDC. Piper Jaffray Companies restated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of First Data Corporation in a report on Thursday, August 10th. Morgan Stanley raised their target price 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. Buckingham Research assumed coverage on shares of First Data Corporation in a report on Monday, October 2nd. They set a “buy” rating and a $23.00 target price on the stock. Finally, ValuEngine upgraded shares of First Data Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $19.28.

Shares of First Data Corporation (FDC) opened at 17.83 on Thursday. The firm has a market cap of $16.46 billion, a price-to-earnings ratio of 29.82 and a beta of 1.73. The stock’s 50 day moving average is $18.14 and its 200-day moving average is $17.44. First Data Corporation has a 12-month low of $13.01 and a 12-month high of $19.20.

First Data Corporation (NYSE:FDC) last announced its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.98 billion. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. First Data Corporation’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. On average, analysts anticipate that First Data Corporation will post $1.53 EPS for the current fiscal year.

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In other news, insider Thomas Joseph Higgins sold 31,718 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $18.15, for a total value of $575,681.70. Following the completion of the sale, the insider now owns 347,493 shares of the company’s stock, valued at $6,306,997.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeff Shanahan bought 118,135 shares of First Data Corporation stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average cost of $17.81 per share, with a total value 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. In the last three months, insiders bought 340,217 shares of company stock valued at $6,139,786 and sold 151,830 shares valued at $2,754,035. Insiders own 6.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of First Data Corporation by 8.7% in the second quarter. Vanguard Group Inc. now owns 32,679,266 shares of the business services provider’s stock valued at $594,763,000 after acquiring an additional 2,614,956 shares during the period. Bank of New York Mellon Corp boosted its position in shares of First Data Corporation by 52.1% in the second quarter. Bank of New York Mellon Corp now owns 17,965,715 shares of the business services provider’s stock valued at $326,976,000 after acquiring an additional 6,151,153 shares during the period. BlackRock Inc. boosted its position in shares of First Data Corporation by 12.2% in the second 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 period. Glenview Capital Management LLC boosted its position in shares of First Data Corporation by 14.0% in the second 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 period. Finally, Credit Suisse AG boosted its position in shares of First Data Corporation by 5.7% in the first quarter. Credit Suisse AG now owns 7,740,994 shares of the business services provider’s stock valued at $119,985,000 after acquiring an additional 415,743 shares during the period. 39.13% of the stock is owned by 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.

Analyst Recommendations for First Data Corporation (NYSE:FDC)

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