Zacks Investment Research upgraded shares of First Data Corporation (NYSE:FDC) from a sell rating to a hold rating in a research report report published on Friday.
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. “
Several other analysts have also recently commented on the stock. Nomura lowered their target price on shares of First Data Corporation from $17.00 to $16.00 and set a neutral rating for the company in a research note on Wednesday, November 1st. BTIG Research reissued a buy rating and set a $23.00 price objective on shares of First Data Corporation in a research note on Tuesday, October 31st. Cantor Fitzgerald reissued a hold rating and set a $17.00 price objective on shares of First Data Corporation in a research note on Monday, October 30th. KeyCorp reissued a buy rating and set a $20.00 price objective on shares of First Data Corporation in a research note on Friday, October 27th. Finally, Wedbush raised shares of First Data Corporation from a neutral rating to an outperform rating and lowered their price objective for the company from $25.00 to $20.00 in a research note on Friday, October 20th. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. First Data Corporation currently has a consensus rating of Buy and a consensus price target of $19.55.
First Data Corporation (NYSE:FDC) traded down $0.30 during mid-day trading on Friday, reaching $16.83. 2,279,477 shares of the company’s stock traded hands, compared to its average volume of 4,426,056. The stock has a market cap of $15,750.00 and a PE ratio of 13.55. 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 Corporation has a 12-month low of $13.96 and a 12-month high of $19.23.
First Data Corporation (NYSE:FDC) last released its earnings results on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.08 billion. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. First Data Corporation’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. equities analysts anticipate that First Data Corporation will post 1.29 earnings per share for the current year.
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In other news, insider Jeff Shanahan acquired 34,284 shares of the business’s stock in a transaction on Friday, September 1st. The shares were purchased at an average price of $18.44 per share, for a total transaction of $632,196.96. Following the acquisition, the insider now directly owns 1,340,434 shares of the company’s stock, valued at approximately $24,717,602.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank Bisignano acquired 25,000 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $16.82 per share, for a total transaction of $420,500.00. Following the acquisition, the chief executive officer now directly owns 7,107,398 shares in the company, valued at $119,546,434.36. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 247,182 shares of company stock worth $4,458,069 and sold 151,830 shares worth $2,754,035. Insiders own 6.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of FDC. Pacer Advisors Inc. lifted its holdings in 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 worth $101,000 after buying an additional 452 shares in the last quarter. Advisor Group Inc. lifted its holdings in 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 worth $102,000 after buying an additional 2,964 shares in the last quarter. Macquarie Group Ltd. acquired a new position in First Data Corporation in the 3rd quarter worth $117,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in First Data Corporation in the 2nd quarter worth $135,000. Finally, Riverhead Capital Management LLC acquired a new position in First Data Corporation in the 2nd quarter worth $135,000. Hedge funds and other institutional investors own 40.89% 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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