First Data Corporation (NYSE:FDC) Stock Rating Reaffirmed by Piper Jaffray Companies
Piper Jaffray Companies restated their buy rating on shares of First Data Corporation (NYSE:FDC) in a research report released on Wednesday. The firm currently has a $22.00 price target on the business services provider’s stock.
FDC has been the topic of a number of other reports. BMO Capital Markets upped 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 report on Tuesday, May 9th. Oppenheimer Holdings, Inc. restated 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 upped their target price on shares of First Data Corporation from $19.00 to $20.00 and gave the company an overweight rating in a research note on Wednesday, May 10th. Zacks Investment Research cut shares of First Data Corporation from a buy rating to a hold rating in a research note on Friday, April 14th. Finally, FIX started 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 on the stock. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $18.44.
Shares of First Data Corporation (FDC) opened at 18.50 on Wednesday. The firm has a market capitalization of $17.00 billion, a PE ratio of 33.39 and a beta of 1.77. First Data Corporation has a 52-week low of $12.65 and a 52-week high of $19.20. The stock’s 50 day moving average is $18.47 and its 200 day moving average is $16.56.
First Data Corporation (NYSE:FDC) last issued its quarterly earnings data on Monday, May 8th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.07. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.78 billion. First Data Corporation had a net margin of 4.41% and a return on equity of 26.15%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. On average, equities research analysts forecast that First Data Corporation will post $1.53 EPS for the current year.
In other news, insider Matthew Cagwin sold 8,195 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $16.42, for a total transaction of $134,561.90. Following the completion of the transaction, the insider now directly owns 85,007 shares in the company, valued at approximately $1,395,814.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Candriam Luxembourg S.C.A. purchased a new position in First Data Corporation during the first quarter worth approximately $3,315,000. Quantitative Systematic Strategies LLC purchased a new position in First Data Corporation during the first quarter worth approximately $1,276,000. Boston Advisors LLC purchased a new position in First Data Corporation during the first quarter worth approximately $515,000. DnB Asset Management AS purchased a new position in First Data Corporation during the first quarter worth approximately $312,000. Finally, Gulf International Bank UK Ltd increased 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 worth $1,518,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 36.52% of the company’s stock.
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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