First Data Corporation (NYSE:FDC)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a report released on Tuesday, October 31st. They presently have a $23.00 price objective on the business services provider’s stock. BTIG Research’s price objective suggests a potential upside of 37.48% from the company’s previous close.
The analysts wrote, “Progress on North America GBS, Deleveraging Pauses While much of investors’ focus on First Data Corporation (FDC) has been on the turnaround of the company’s North America Global Business Solutions (GBS) unit, during 3Q17 it was strong growth in the company’s Global Financial Solutions (GFS) and Network and Security Solutions (NSS) segment that drove a modest total segment EBITDA beat.””
Several other research analysts also recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $17.00 target price on shares of First Data Corporation in a report on Monday, October 30th. Zacks Investment Research raised shares of First Data Corporation from a “sell” rating to a “hold” rating in a report on Friday, October 27th. KeyCorp reissued a “buy” rating and set a $20.00 price objective on shares of First Data Corporation in a report on Friday, October 27th. Wedbush raised shares of First Data Corporation from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $25.00 to $20.00 in a report on Friday, October 20th. Finally, SunTrust Banks, Inc. reissued a “buy” rating on shares of First Data Corporation in a report on Friday, October 20th. 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 stock has an average rating of “Buy” and a consensus target price of $19.55.
First Data Corporation (NYSE:FDC) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.08 billion. First Data Corporation had a return on equity of 26.60% and a net margin of 5.99%. First Data Corporation’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. research analysts expect that First Data Corporation will post 1.29 earnings per share for the current fiscal year.
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In related news, insider Jeff Shanahan bought 77,453 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average price of $18.04 per share, for a total transaction of $1,397,252.12. Following the completion of the transaction, the insider now directly owns 1,160,964 shares in the company, valued at $20,943,790.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Barry C. Mccarthy sold 81,858 shares of First Data Corporation stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $18.17, for a total transaction of $1,487,359.86. Following the completion of the sale, the insider now owns 406,890 shares in the company, valued at approximately $7,393,191.30. The disclosure for this sale can be found here. In the last quarter, insiders bought 247,182 shares of company stock worth $4,458,069 and sold 151,830 shares worth $2,754,035. 6.30% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its position in First Data Corporation by 8.9% during the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after acquiring an additional 452 shares during the last quarter. Advisor Group Inc. boosted its position in First Data Corporation by 113.3% during the second 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 First Data Corporation during the third quarter worth about $117,000. Ladenburg Thalmann Financial Services Inc. boosted its position in First Data Corporation by 254.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock worth $130,000 after acquiring an additional 5,173 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in First Data Corporation in the 2nd quarter valued at about $135,000. Hedge funds and other institutional investors own 42.75% of the company’s stock.
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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