First Data (NYSE:FDC) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday.
A number of other equities analysts have also issued reports on FDC. Buckingham Research initiated coverage on First Data in a report on Monday, October 2nd. They set a “buy” rating and a $23.00 price target on the stock. ValuEngine raised First Data from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Cantor Fitzgerald reissued a “hold” rating and set a $17.00 price target on shares of First Data in a report on Friday, October 20th. KeyCorp reissued a “buy” rating and set a $20.00 price target on shares of First Data in a report on Friday, October 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 price target on shares of First Data in a report on Friday, October 6th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. First Data has an average rating of “Buy” and a consensus target price of $20.11.
Shares of First Data (NYSE:FDC) opened at $18.00 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.58. First Data has a 52-week low of $14.67 and a 52-week high of $19.23. The company has a market capitalization of $16,216.06, a PE ratio of 23.68, a PEG ratio of 1.17 and a beta of 1.51.
First Data (NYSE:FDC) last posted its earnings results on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.40. First Data had a return on equity of 26.60% and a net margin of 5.99%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. research analysts forecast that First Data will post 1.28 EPS for the current fiscal year.
In other First Data news, CEO Frank Bisignano acquired 25,000 shares of the stock in a transaction on Thursday, November 9th. The shares were bought at an average price of $16.82 per share, with a total value of $420,500.00. Following the acquisition, the chief executive officer now owns 7,107,398 shares of the company’s stock, valued at $119,546,434.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Gelb sold 7,473 shares of First Data stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $17.12, for a total value of $127,937.76. Following the completion of the sale, the insider now directly owns 417,652 shares in the company, valued at approximately $7,150,202.24. The disclosure for this sale can be found here. Insiders acquired a total of 25,300 shares of company stock worth $425,624 in the last ninety days. 6.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in FDC. Canada Pension Plan Investment Board lifted its position in shares of First Data by 117.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 14,791,789 shares of the business services provider’s stock valued at $266,844,000 after acquiring an additional 7,979,289 shares during the period. Iridian Asset Management LLC CT acquired a new stake in shares of First Data during the 3rd quarter valued at approximately $121,916,000. Point72 Asset Management L.P. lifted its position in shares of First Data by 1,230.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,574,786 shares of the business services provider’s stock valued at $100,569,000 after acquiring an additional 5,155,686 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of First Data during the 3rd quarter valued at approximately $54,501,000. Finally, Balyasny Asset Management LLC lifted its position in shares of First Data by 1,307.1% during the 2nd quarter. Balyasny Asset Management LLC now owns 2,982,990 shares of the business services provider’s stock valued at $54,290,000 after acquiring an additional 2,770,991 shares during the period. 49.05% of the stock is currently owned by institutional investors.
First Data Company Profile
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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