First Data Corporation (NYSE:FDC) had its target price raised by stock analysts at Robert W. Baird from $20.00 to $22.00 in a note issued to investors on Thursday. The brokerage presently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 23.39% from the company’s current price.
A number of other brokerages also recently commented on FDC. Zacks Investment Research upgraded shares of First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, July 21st. Credit Suisse Group restated an “outperform” rating on shares of First Data Corporation in a research report on Tuesday, September 5th. BTIG Research restated a “buy” rating and set a $23.00 price objective (up previously from $18.00) on shares of First Data Corporation in a research report on Monday, June 19th. Morgan Stanley downgraded shares of First Data Corporation from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $18.00 to $19.00 in a research report on Wednesday, June 28th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of First Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the stock. First Data Corporation has an average rating of “Buy” and a consensus price target of $19.35.
Shares of First Data Corporation (FDC) traded down 0.028% on Thursday, hitting $17.825. 3,931,532 shares of the company traded hands. The company has a market capitalization of $16.45 billion, a PE ratio of 29.808 and a beta of 1.73. First Data Corporation has a 12 month low of $13.01 and a 12 month high of $19.20. The stock’s 50-day moving average price is $18.14 and its 200-day moving average price is $17.44.
First Data Corporation (NYSE:FDC) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. First Data Corporation’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts predict that First Data Corporation will post $1.53 earnings per share for the current year.
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In related news, insider Thomas Joseph Higgins sold 31,718 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $18.15, for a total value of $575,681.70. Following the sale, the insider now directly owns 347,493 shares of the company’s stock, valued at $6,306,997.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barry C. Mccarthy sold 81,858 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was 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 directly owns 406,890 shares in the company, valued at $7,393,191.30. The disclosure for this sale can be found here. Over the last three months, insiders purchased 340,217 shares of company stock worth $6,139,786 and sold 151,830 shares worth $2,754,035. 6.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FDC. BlackRock Inc. raised its holdings in First Data Corporation by 4,828.8% in the first quarter. BlackRock Inc. now owns 14,148,797 shares of the business services provider’s stock valued at $219,306,000 after buying an additional 13,861,731 shares during the period. Bank of New York Mellon Corp raised its holdings in First Data Corporation by 52.1% in the second quarter. Bank of New York Mellon Corp now owns 17,965,715 shares of the business services provider’s stock valued at $326,976,000 after buying an additional 6,151,153 shares during the period. American Century Companies Inc. raised its holdings in First Data Corporation by 4,509.6% in the second quarter. American Century Companies Inc. now owns 4,545,711 shares of the business services provider’s stock valued at $82,732,000 after buying an additional 4,447,098 shares during the period. Balyasny Asset Management LLC raised its holdings in First Data Corporation by 1,307.1% in the second quarter. Balyasny Asset Management LLC now owns 2,982,990 shares of the business services provider’s stock valued at $54,290,000 after buying an additional 2,770,991 shares during the period. Finally, Vanguard Group Inc. raised its holdings in First Data Corporation by 8.7% in the second quarter. Vanguard Group Inc. now owns 32,679,266 shares of the business services provider’s stock valued at $594,763,000 after buying an additional 2,614,956 shares during the period. Hedge funds and other institutional investors own 39.13% 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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