Analysts Set First Data Corp (FDC) Target Price at $24.40
Shares of First Data Corp (NYSE:FDC) have been assigned an average recommendation of “Hold” from the thirty analysts that are presently covering the stock, Marketbeat reports. Twenty analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.40.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of First Data from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. ValuEngine raised shares of First Data from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Cowen cut shares of First Data from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $28.00 to $22.74 in a report on Thursday, January 17th. Piper Jaffray Companies cut shares of First Data from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 6th. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $25.00 target price (down from $29.00) on shares of First Data in a report on Thursday, February 7th.
Shares of NYSE:FDC traded down $0.31 on Thursday, reaching $25.38. The company’s stock had a trading volume of 257,560 shares, compared to its average volume of 9,418,794. First Data has a 52-week low of $14.73 and a 52-week high of $27.15. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $24.08 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.39 and a beta of 2.28.
In other First Data news, insider Ivo M. Distelbrink sold 20,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $25.36, for a total transaction of $507,200.00. Following the transaction, the insider now directly owns 274,114 shares in the company, valued at $6,951,531.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Guy Chiarello sold 203,647 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $25.85, for a total transaction of $5,264,274.95. Following the transaction, the president now owns 1,324,235 shares in the company, valued at $34,231,474.75. The disclosure for this sale can be found here. Insiders have sold 375,384 shares of company stock valued at $9,680,575 over the last three months. 4.87% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. DNB Asset Management AS grew its position in First Data by 11.7% during the first quarter. DNB Asset Management AS now owns 56,824 shares of the business services provider’s stock worth $1,493,000 after buying an additional 5,961 shares during the period. CenturyLink Investment Management Co grew its position in First Data by 21.1% during the first quarter. CenturyLink Investment Management Co now owns 69,154 shares of the business services provider’s stock worth $1,817,000 after buying an additional 12,038 shares during the period. Tibra Equities Europe Ltd acquired a new position in First Data during the first quarter worth about $5,609,000. Jackson Hole Capital Partners LLC acquired a new stake in shares of First Data in the fourth quarter valued at approximately $362,000. Finally, MUFG Securities EMEA plc grew its position in shares of First Data by 142.1% in the fourth quarter. MUFG Securities EMEA plc now owns 968,500 shares of the business services provider’s stock valued at $16,377,000 after purchasing an additional 568,500 shares during the last quarter. Institutional investors own 56.66% of the company’s stock.
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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