Investment analysts at BMO Capital Markets initiated coverage on shares of First Data (NYSE:FDC) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set a “market perform” rating and a $26.00 price target on the business services provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 7.53% from the stock’s current price.

FDC has been the subject of a number of other research reports. Cowen reaffirmed a “buy” rating and issued a $28.00 price objective on shares of First Data in a research report on Tuesday, July 31st. SunTrust Banks reaffirmed a “buy” rating and issued a $29.00 price objective on shares of First Data in a research report on Tuesday, July 31st. Goldman Sachs Group raised First Data from a “neutral” rating to a “buy” rating and boosted their price target for the company from $22.00 to $25.00 in a research report on Monday, June 11th. KeyCorp boosted their price target on First Data from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, July 20th. Finally, Zacks Investment Research raised First Data from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Wednesday, July 4th. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $26.27.

Shares of NYSE:FDC opened at $24.18 on Wednesday. The firm has a market capitalization of $23.55 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.54. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.77. First Data has a 52 week low of $14.73 and a 52 week high of $26.62.

First Data (NYSE:FDC) last announced its quarterly earnings data on Monday, July 30th. The business services provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.20 billion. First Data had a return on equity of 21.88% and a net margin of 15.39%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. research analysts anticipate that First Data will post 1.25 earnings per share for the current fiscal year.

In other First Data news, insider Jeff Shanahan sold 115,229 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $23.94, for a total transaction of $2,758,582.26. Following the transaction, the insider now owns 256,100 shares in the company, valued at $6,131,034. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Barry C. Mccarthy sold 151,203 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $25.78, for a total value of $3,898,013.34. Following the transaction, the insider now owns 484,774 shares in the company, valued at approximately $12,497,473.72. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 294 shares of company stock worth $7,132 and have sold 416,432 shares worth $10,415,596. Insiders own 5.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of First Data by 23.8% during the first quarter. BlackRock Inc. now owns 27,998,267 shares of the business services provider’s stock worth $447,973,000 after purchasing an additional 5,380,509 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of First Data by 9.3% during the second quarter. Canada Pension Plan Investment Board now owns 16,508,357 shares of the business services provider’s stock worth $345,520,000 after purchasing an additional 1,400,000 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of First Data by 95.9% during the second quarter. OppenheimerFunds Inc. now owns 11,790,919 shares of the business services provider’s stock worth $246,783,000 after purchasing an additional 5,772,608 shares in the last quarter. Senator Investment Group LP lifted its stake in shares of First Data by 36.7% during the second quarter. Senator Investment Group LP now owns 10,250,000 shares of the business services provider’s stock worth $214,532,000 after purchasing an additional 2,750,000 shares in the last quarter. Finally, Standard Life Aberdeen plc lifted its stake in shares of First Data by 0.6% during the second quarter. Standard Life Aberdeen plc now owns 6,262,911 shares of the business services provider’s stock worth $131,177,000 after purchasing an additional 36,430 shares in the last quarter. Institutional investors own 51.26% of the company’s stock.

About First Data

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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