First Data (FDC) Price Target Cut to $19.00

First Data (NYSE:FDC) had its price target reduced by research analysts at Morgan Stanley from $20.00 to $19.00 in a research note issued on Wednesday. The firm presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 19.95% from the company’s previous close.

A number of other brokerages have also recently weighed in on FDC. Cantor Fitzgerald reiterated a “hold” rating and set a $17.00 price target on shares of First Data in a research report on Monday, October 30th. Zacks Investment Research raised First Data from a “sell” rating to a “hold” rating in a report on Friday, October 27th. KeyCorp reissued a “buy” rating and issued a $20.00 price objective on shares of First Data in a report on Friday, October 27th. Wedbush raised First Data from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $25.00 to $20.00 in a report on Friday, October 20th. Finally, SunTrust Banks reissued a “buy” rating on shares of First Data in a report on Friday, October 20th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. First Data presently has a consensus rating of “Buy” and a consensus price target of $20.19.

Shares of First Data (NYSE:FDC) traded up $0.34 during trading on Wednesday, hitting $15.84. The stock had a trading volume of 10,170,000 shares, compared to its average volume of 7,830,000. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $14,630.00 and a PE ratio of 10.22. First Data has a fifty-two week low of $14.67 and a fifty-two week high of $19.23.

First Data (NYSE:FDC) last announced its quarterly earnings results on Monday, February 12th. The business services provider reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.11 billion. First Data had a return on equity of 26.90% and a net margin of 12.16%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. research analysts forecast that First Data will post 1.31 EPS for the current year.

In other First Data news, insider Andrew Gelb sold 7,473 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $127,937.76. Following the completion of the transaction, the insider now directly owns 417,652 shares of the company’s stock, valued at approximately $7,150,202.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have acquired 300 shares of company stock valued at $5,124. 6.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in First Data by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 348 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in First Data by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,832 shares of the business services provider’s stock valued at $561,000 after purchasing an additional 2,221 shares in the last quarter. HighTower Advisors LLC boosted its stake in First Data by 20.8% during the 2nd quarter. HighTower Advisors LLC now owns 15,572 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 2,677 shares in the last quarter. Advisor Group Inc. lifted its position in shares of First Data by 113.3% during 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. Finally, Pittenger & Anderson Inc. lifted its position in shares of First Data by 72.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 7,750 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 3,250 shares during the last quarter. 49.19% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for First Data (NYSE:FDC)

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