First Data Corporation (FDC) Sees Significant Drop in Short Interest
First Data Corporation (NYSE:FDC) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 19,687,441 shares, a drop of 15.2% from the October 13th total of 23,206,623 shares. Currently, 5.8% of the shares of the company are short sold. Based on an average daily volume of 7,503,064 shares, the short-interest ratio is currently 2.6 days.
In other First Data Corporation news, insider Jeff Shanahan acquired 77,453 shares of the stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $18.04 per share, with a total value of $1,397,252.12. Following the transaction, the insider now owns 1,160,964 shares of the company’s stock, valued at approximately $20,943,790.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank Bisignano acquired 25,000 shares of the stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $16.82 per share, for a total transaction of $420,500.00. Following the completion of the transaction, the chief executive officer now directly owns 7,107,398 shares in the company, valued at approximately $119,546,434.36. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 247,182 shares of company stock worth $4,458,069 and have sold 151,830 shares worth $2,754,035. Company insiders own 6.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in 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 valued at $101,000 after acquiring an additional 452 shares in the last quarter. Advisor Group Inc. raised its holdings in First Data Corporation by 113.3% in the second 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 in the last quarter. Macquarie Group Ltd. acquired a new stake in First Data Corporation in the third quarter valued at $117,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in First Data Corporation by 254.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 5,173 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in First Data Corporation in the second quarter valued at $135,000. 40.89% of the stock is currently owned by hedge funds and other institutional investors.
First Data Corporation (FDC) opened at $16.74 on Thursday. First Data Corporation has a 12-month low of $13.96 and a 12-month high of $19.23. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $15,818.97, a price-to-earnings ratio of 13.60, a PEG ratio of 1.15 and a beta of 1.69.
First Data Corporation (NYSE:FDC) last posted its earnings results on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. research analysts anticipate that First Data Corporation will post 1.29 EPS for the current year.
Several analysts have recently commented on the stock. Piper Jaffray Companies restated an “overweight” rating and issued a $23.00 target price (up previously from $22.00) on shares of First Data Corporation in a research note 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 research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Friday, July 21st. BidaskClub upgraded shares of First Data Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Buckingham Research initiated coverage on shares of First Data Corporation in a research note on Monday, October 2nd. They issued a “buy” rating and a $23.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $19.55.
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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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