Buckingham Research Initiates Coverage on First Data Corporation (FDC)
Buckingham Research began coverage on shares of First Data Corporation (NYSE:FDC) in a research note issued to investors on Monday. The firm set a “buy” rating and a $23.00 price target on the business services provider’s stock. Buckingham Research’s price objective indicates a potential upside of 28.35% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Craig Hallum reissued a “buy” rating and set a $25.00 price objective (up from $20.00) on shares of First Data Corporation in a report on Tuesday, August 8th. Zacks Investment Research raised First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, August 2nd. Credit Suisse Group upped their target price on First Data Corporation from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. ValuEngine cut shares of First Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Robert W. Baird reiterated a “hold” rating and set a $20.00 price target on shares of First Data Corporation in a research report on Friday, August 25th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.05.
Shares of First Data Corporation (FDC) opened at 17.92 on Monday. The company’s 50 day moving average is $18.12 and its 200 day moving average is $17.34. First Data Corporation has a one year low of $13.01 and a one year high of $19.20. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 29.97 and a beta of 1.73.
First Data Corporation (NYSE:FDC) last issued its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts predict that First Data Corporation will post $1.53 earnings per share for the current year.
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In related news, insider Thomas Joseph Higgins sold 31,718 shares of First Data Corporation stock in a transaction on Friday, September 15th. The shares were sold at an average price of $18.15, for a total value of $575,681.70. Following the sale, the insider now owns 347,493 shares in the company, valued at $6,306,997.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeff Shanahan purchased 118,135 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average price of $17.81 per share, for a total transaction of $2,103,984.35. Following the acquisition, the insider now 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 90 days, insiders have purchased 340,217 shares of company stock valued at $6,139,786 and have sold 151,830 shares valued at $2,754,035. 6.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of FDC. Russell Investments Group Ltd. raised its holdings in First Data Corporation by 445.4% in the 1st quarter. Russell Investments Group Ltd. now owns 105,543 shares of the business services provider’s stock worth $1,635,000 after purchasing an additional 86,192 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of First Data Corporation by 6.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 95,454 shares of the business services provider’s stock worth $1,477,000 after purchasing an additional 6,055 shares during the period. US Bancorp DE lifted its position in shares of First Data Corporation by 11.5% in the 1st quarter. US Bancorp DE now owns 28,207 shares of the business services provider’s stock worth $437,000 after purchasing an additional 2,916 shares during the period. Comerica Bank boosted its stake in shares of First Data Corporation by 3.1% during the 1st quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock valued at $202,000 after purchasing an additional 391 shares in the last quarter. Finally, World Asset Management Inc bought a new stake in shares of First Data Corporation during the 1st quarter valued at about $173,000. 39.13% of the stock is currently owned by institutional investors and hedge funds.
First Data Corporation 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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