First Data Corporation (FDC) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of First Data Corporation (NYSE:FDC) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

According to Zacks, “First Data Corporation  is a commerce-enabling technology and solutions company. The company's second-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. “

FDC has been the subject of a number of other research reports. Craig Hallum restated a buy rating and issued a $25.00 target price (up previously from $20.00) on shares of First Data Corporation in a research note on Tuesday, August 8th. Credit Suisse Group raised their target price on First Data Corporation from $19.00 to $20.00 and gave the company an outperform rating in a research note on Thursday, July 13th. ValuEngine cut First Data Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods reiterated a buy rating and set a $21.00 price objective on shares of First Data Corporation in a research note on Friday, October 6th. Finally, Robert W. Baird reiterated a hold rating and set a $20.00 price objective on shares of First Data Corporation in a research note on Friday, August 25th. One 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 company’s stock. The company has a consensus rating of Buy and an average price target of $19.35.

Shares of First Data Corporation (NYSE FDC) traded up 1.48% during trading on Tuesday, hitting $17.80. The stock had a trading volume of 2,636,497 shares. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 29.77 and a beta of 1.73. The firm has a 50 day moving average price of $18.12 and a 200-day moving average price of $17.44. First Data Corporation has a 52 week low of $13.01 and a 52 week high of $19.20.

First Data Corporation (NYSE:FDC) last released its earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.06. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. On average, equities research analysts forecast that First Data Corporation will post $1.53 EPS for the current fiscal year.

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In related news, insider Christopher M. Foskett sold 10,254 shares of First Data Corporation stock in a transaction on Friday, September 8th. The stock was sold at an average price of $18.40, for a total value of $188,673.60. Following the completion of the sale, the insider now owns 430,294 shares of the company’s stock, valued at $7,917,409.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeff Shanahan acquired 118,135 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average cost of $17.81 per share, with a total value of $2,103,984.35. Following the acquisition, the insider now directly owns 1,122,038 shares of the company’s stock, valued at $19,983,496.78. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 340,217 shares of company stock valued at $6,139,786 and sold 151,830 shares valued at $2,754,035. Insiders own 6.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in shares of First Data Corporation by 8.9% in 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 period. Advisor Group Inc. grew its holdings in shares of First Data Corporation by 113.3% in 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 period. Tower Research Capital LLC TRC grew its holdings in shares of First Data Corporation by 1,276.6% in the first quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock worth $103,000 after acquiring an additional 6,153 shares during the period. Nordea Investment Management AB grew its holdings in shares of First Data Corporation by 9.0% in the first quarter. Nordea Investment Management AB now owns 7,632 shares of the business services provider’s stock worth $118,000 after acquiring an additional 632 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of First Data Corporation in the second quarter worth $135,000. 39.13% of the stock is owned by institutional investors.

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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