First Data Corporation (FDC) Rating Increased to Hold at Zacks Investment Research
First Data Corporation (NYSE:FDC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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 equities analysts have also recently issued reports about the company. Craig Hallum reiterated a “buy” rating and issued a $25.00 price target (up from $20.00) on shares of First Data Corporation in a research report on Tuesday, August 8th. BidaskClub cut First Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies reissued a “buy” rating and set a $22.00 price objective on shares of First Data Corporation in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 price objective on shares of First Data Corporation in a research note on Thursday, August 24th. Finally, Buckingham Research began coverage on First Data Corporation in a research note on Monday, October 2nd. They set a “buy” rating and a $23.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. First Data Corporation has a consensus rating of “Buy” and a consensus price target of $19.55.
First Data Corporation (NYSE:FDC) last announced its quarterly 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 company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.08 billion. First Data Corporation had a return on equity of 26.60% and a net margin of 5.99%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share.
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In related news, insider Thomas Joseph Higgins sold 31,718 shares of the 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 transaction, the insider now owns 347,493 shares of the company’s stock, valued at approximately $6,306,997.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeff Shanahan purchased 118,135 shares of the stock in a transaction that occurred on 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 acquisition, the insider now 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 ninety days, insiders purchased 340,317 shares of company stock valued at $6,141,554 and sold 151,830 shares valued at $2,754,035. 6.30% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in FDC. Pacer Advisors Inc. lifted its holdings in shares of First Data Corporation by 8.9% in 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. lifted its holdings in shares of First Data Corporation by 113.3% in 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 position in shares of First Data Corporation in the 2nd quarter valued at about $135,000. Riverhead Capital Management LLC bought a new position in shares of First Data Corporation in the 2nd quarter valued at about $135,000. Finally, First Manhattan Co. lifted its holdings in shares of First Data Corporation by 200.0% in 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. 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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