First Data (NYSE:FDC) had its price objective upped by investment analysts at Nomura from $21.00 to $26.00 in a research report issued on Wednesday, October 17th, Marketbeat reports. The firm presently has a “neutral” rating on the business services provider’s stock. Nomura’s price objective suggests a potential upside of 39.41% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. Morgan Stanley increased their price objective on First Data from $20.00 to $22.00 and gave the stock a “$22.60” rating in a research note on Thursday, July 19th. Citigroup increased their target price on First Data to $28.00 and gave the company a “buy” rating in a research report on Tuesday, July 17th. They noted that the move was a valuation call. Zacks Investment Research raised First Data from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Wednesday, July 4th. Craig Hallum set a $35.00 target price on First Data and gave the company a “buy” rating in a research report on Tuesday, July 31st. Finally, Mizuho reaffirmed a “buy” rating and set a $28.00 target price on shares of First Data in a research report on Tuesday, July 31st. Five research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $27.04.
NYSE:FDC traded down $0.47 during midday trading on Wednesday, hitting $18.65. The stock had a trading volume of 4,390,497 shares, compared to its average volume of 13,009,455. First Data has a one year low of $14.73 and a one year high of $26.62. The stock has a market cap of $18.30 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 1.69 and a beta of 1.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.47.
First Data (NYSE:FDC) last announced its quarterly earnings data on Monday, October 29th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). First Data had a return on equity of 19.33% and a net margin of 17.48%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that First Data will post 1.2 EPS for the current fiscal year.
In related news, insider Barry C. Mccarthy sold 113,515 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $19.13, for a total value of $2,171,541.95. Following the completion of the transaction, the insider now owns 368,571 shares in the company, valued at approximately $7,050,763.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Barry C. Mccarthy sold 35,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $18.69, for a total value of $654,150.00. Following the completion of the transaction, the insider now owns 368,571 shares of the company’s stock, valued at approximately $6,888,591.99. The disclosure for this sale can be found here. Insiders sold a total of 564,947 shares of company stock valued at $13,241,288 in the last 90 days. 5.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board grew its position in First Data by 13.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 18,728,704 shares of the business services provider’s stock worth $458,291,000 after purchasing an additional 2,220,347 shares during the period. DekaBank Deutsche Girozentrale grew its position in First Data by 71.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 38,341 shares of the business services provider’s stock worth $1,040,000 after purchasing an additional 15,982 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in First Data by 291.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 354,028 shares of the business services provider’s stock worth $8,663,000 after purchasing an additional 263,571 shares during the period. CIBC World Markets Inc. grew its position in First Data by 94.0% during the 3rd quarter. CIBC World Markets Inc. now owns 171,341 shares of the business services provider’s stock worth $4,193,000 after purchasing an additional 83,039 shares during the period. Finally, Affinity Investment Advisors LLC grew its position in First Data by 67.3% during the 3rd quarter. Affinity Investment Advisors LLC now owns 173,340 shares of the business services provider’s stock worth $4,242,000 after purchasing an additional 69,703 shares during the period. 51.52% of the stock is currently owned by institutional investors.
First Data Company Profile
First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.
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