First Data Corporation (FDC) Price Target Raised to $22.00
First Data Corporation (NYSE:FDC) had its price target lifted by investment analysts at Robert W. Baird from $20.00 to $22.00 in a note issued to investors on Thursday. The firm currently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s price target suggests a potential upside of 25.43% from the stock’s previous close.
A number of other equities analysts have also commented on the company. Zacks Investment Research upgraded First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, July 21st. Credit Suisse Group restated an “outperform” rating on shares of First Data Corporation in a research note on Tuesday, September 5th. BTIG Research restated a “buy” rating and set a $23.00 price objective (up previously from $18.00) on shares of First Data Corporation in a research note on Monday, June 19th. Morgan Stanley lowered First Data Corporation from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $18.00 to $19.00 in a research note on Wednesday, June 28th. They noted that the move was a valuation call. Finally, ValuEngine lowered First Data Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $19.35.
Shares of First Data Corporation (NYSE FDC) traded down 1.63% during mid-day trading on Thursday, hitting $17.54. The stock had a trading volume of 7,799,216 shares. The stock has a market capitalization of $16.19 billion, a P/E ratio of 29.33 and a beta of 1.73. First Data Corporation has a 52 week low of $13.01 and a 52 week high of $19.20. The stock has a 50 day moving average of $18.12 and a 200-day moving average of $17.44.
First Data Corporation (NYSE:FDC) last posted its quarterly earnings data on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the company earned $0.35 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that First Data Corporation will post $1.53 earnings per share for the current year.
In other news, insider Jeff Shanahan acquired 118,135 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average price of $17.81 per share, with a total value of $2,103,984.35. Following the acquisition, the insider now directly owns 1,122,038 shares in the company, valued at approximately $19,983,496.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher M. Foskett sold 10,254 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $18.40, for a total value of $188,673.60. Following the sale, the insider now directly owns 430,294 shares in the company, valued at approximately $7,917,409.60. The disclosure for this sale can be found here. In the last three months, insiders have purchased 340,217 shares of company stock worth $6,139,786 and have sold 151,830 shares worth $2,754,035. Company insiders own 6.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position in First Data Corporation by 0.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,153 shares of the business services provider’s stock worth $157,000 after purchasing an additional 45 shares during the last quarter. PNC Financial Services Group Inc. raised its position in First Data Corporation by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock worth $327,000 after purchasing an additional 348 shares during the last quarter. Comerica Bank raised its position in First Data Corporation by 3.1% during the 1st quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock worth $202,000 after purchasing an additional 391 shares during the last quarter. Pacer Advisors Inc. raised its position in 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 worth $101,000 after purchasing an additional 452 shares during the last quarter. Finally, HL Financial Services LLC raised its position in First Data Corporation by 3.5% during the 2nd quarter. HL Financial Services LLC now owns 17,950 shares of the business services provider’s stock worth $327,000 after purchasing an additional 600 shares during the last quarter. 39.13% of the stock is currently owned by institutional investors.
About First Data Corporation
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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