Zacks Investment Research lowered shares of First Data Corporation (NYSE:FDC) from a buy rating to a hold rating in a report released on Friday.

According to Zacks, “First Data Corporation  is a commerce-enabling technology and solutions company. The company's first-quarter 2017 earnings matched the Zacks Consensus Estimate. First Data’s focus on globalizing its offerings and strategic partnerships along with a healthy business around large and small banks are positives. However, the company is subject to seasonality and foreign exchange risk and has no intention of paying cash dividend at present. Over the last one year, the company has outperformed the Zacks Business Services industry. “

Several other research analysts have also weighed in on the stock. BMO Capital Markets increased their target price on shares of First Data Corporation from $18.00 to $19.00 and gave the stock a market perform rating in a research note on Tuesday, May 9th. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $19.00 target price (up previously from $18.00) on shares of First Data Corporation in a research note on Wednesday, May 10th. Barclays PLC increased their target price on shares of First Data Corporation from $19.00 to $20.00 and gave the stock an overweight rating in a research note on Wednesday, May 10th. FIX initiated coverage on shares of First Data Corporation in a research note on Thursday, May 18th. They set an outperform rating and a $18.00 target price for the company. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $19.00 target price on shares of First Data Corporation in a research note on Tuesday, April 4th. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $18.44.

Shares of First Data Corporation (NYSE FDC) traded up 0.54% during midday trading on Friday, reaching $18.76. 326,102 shares of the company were exchanged. The firm has a 50-day moving average of $18.47 and a 200 day moving average of $16.60. First Data Corporation has a 52 week low of $12.71 and a 52 week high of $19.20. The firm has a market capitalization of $17.24 billion, a P/E ratio of 33.86 and a beta of 1.76.

First Data Corporation (NYSE:FDC) last announced its earnings results on Monday, May 8th. The business services provider reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.07. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.78 billion. First Data Corporation had a net margin of 4.41% and a return on equity of 26.15%. First Data Corporation’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. On average, equities research analysts expect that First Data Corporation will post $1.53 EPS for the current year.

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In related news, insider Matthew Cagwin sold 8,195 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $16.42, for a total value of $134,561.90. Following the sale, the insider now owns 85,007 shares of the company’s stock, valued at $1,395,814.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.30% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in First Data Corporation by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,153 shares of the business services provider’s stock valued at $157,000 after buying an additional 45 shares in the last quarter. Comerica Bank boosted its position in First Data Corporation by 3.1% in the first quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock valued at $202,000 after buying an additional 391 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in First Data Corporation by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 97,940 shares of the business services provider’s stock valued at $1,518,000 after buying an additional 600 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in First Data Corporation by 7.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,571 shares of the business services provider’s stock valued at $124,000 after buying an additional 616 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in First Data Corporation by 9.0% in the first quarter. Nordea Investment Management AB now owns 7,632 shares of the business services provider’s stock valued at $118,000 after buying an additional 632 shares in the last quarter. 36.54% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for First Data Corporation (NYSE:FDC)

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