First Data (NYSE:FDC) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday. The brokerage presently has a $22.00 price target on the business services provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 39.68% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. Sanford C. Bernstein raised First Data from a “market perform” rating to an “outperform” rating in a report on Wednesday. Morgan Stanley dropped their price objective on First Data from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday. BTIG Research reaffirmed a “buy” rating on shares of First Data in a report on Tuesday. BMO Capital Markets lifted their price objective on First Data from $21.50 to $22.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Zacks Investment Research raised First Data from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. First Data has an average rating of “Buy” and an average price target of $20.19.
Shares of First Data (NYSE FDC) traded up $0.25 during midday trading on Wednesday, reaching $15.75. The company’s stock had a trading volume of 3,808,891 shares, compared to its average volume of 7,603,484. The firm has a market cap of $14,530.00 and a PE ratio of 10.18. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.02 and a quick ratio of 1.02. First Data has a 52-week low of $14.67 and a 52-week high of $19.23.
In other news, insider Andrew Gelb sold 7,473 shares of First Data stock in a transaction on Monday, November 20th. The stock was sold at an average price of $17.12, for a total value of $127,937.76. Following the transaction, the insider now owns 417,652 shares in the company, valued at approximately $7,150,202.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders bought 300 shares of company stock worth $5,124. Corporate insiders own 6.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of FDC. Advisor Group Inc. grew its position in First Data by 113.3% during the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after acquiring an additional 2,964 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of First Data in the 3rd quarter valued at about $117,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of First Data by 254.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 5,173 shares during the period. Pittenger & Anderson Inc. lifted its stake in shares of First Data by 72.2% in the 4th quarter. Pittenger & Anderson Inc. now owns 7,750 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 3,250 shares during the period. Finally, Cerebellum GP LLC acquired a new position in First Data during the 4th quarter worth approximately $131,000. Institutional investors and hedge funds own 49.19% of the company’s stock.
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First Data 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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