First Data Corporation (FDC) PT Raised to $24.00

First Data Corporation (NYSE:FDC) had its price target boosted by analysts at Barclays PLC from $22.00 to $24.00 in a research note issued to investors on Wednesday. The brokerage currently has an “overweight” rating on the business services provider’s stock. Barclays PLC’s price target points to a potential upside of 36.83% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Buckingham Research assumed coverage on shares of First Data Corporation in a report on Monday, October 2nd. They issued a “buy” rating and a $23.00 target price on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of First Data Corporation in a report on Thursday, August 10th. BidaskClub upgraded shares of First Data Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday, July 21st. Finally, Morgan Stanley boosted their target price on shares of First Data Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have assigned a buy rating to the stock. First Data Corporation has an average rating of “Buy” and an average price target of $19.35.

First Data Corporation (NYSE:FDC) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported $0.40 earnings per share (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 company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the company earned $0.35 EPS. First Data Corporation’s revenue was up 3.3% compared to the same quarter last year.

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In other First Data Corporation news, insider Jeff Shanahan bought 77,453 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were purchased at an average cost of $18.04 per share, with a total value of $1,397,252.12. Following the purchase, the insider now directly owns 1,160,964 shares in the company, valued at $20,943,790.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barry C. Mccarthy sold 81,858 shares of the company’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 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 90 days, insiders bought 340,217 shares of company stock worth $6,139,786 and sold 151,830 shares worth $2,754,035. Corporate insiders own 6.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. increased its stake in First Data Corporation by 4,509.6% during the 2nd quarter. American Century Companies Inc. now owns 4,545,711 shares of the business services provider’s stock worth $82,732,000 after buying an additional 4,447,098 shares during the period. Prudential Financial Inc. increased its stake in First Data Corporation by 4.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,270,900 shares of the business services provider’s stock worth $23,131,000 after buying an additional 57,600 shares during the period. Russell Investments Group Ltd. increased its stake in First Data Corporation by 51.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 159,661 shares of the business services provider’s stock worth $2,905,000 after buying an additional 54,118 shares during the period. Nuveen Asset Management LLC increased its stake in First Data Corporation by 187.9% during the 1st quarter. Nuveen Asset Management LLC now owns 1,136,196 shares of the business services provider’s stock worth $17,611,000 after buying an additional 741,547 shares during the period. Finally, Stifel Financial Corp purchased a new stake in First Data Corporation during the 1st quarter worth approximately $315,000. 39.13% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for First Data Corporation (NYSE:FDC)

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