Insider Selling: First Data Corporation (FDC) Insider Sells 28,000 Shares of Stock
First Data Corporation (NYSE:FDC) insider Cynthia A. Armine-Klein sold 28,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $17.94, for a total value of $502,320.00. Following the sale, the insider now owns 596,052 shares of the company’s stock, valued at approximately $10,693,172.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of First Data Corporation (NYSE:FDC) traded up 0.55% on Tuesday, reaching $18.25. The company had a trading volume of 7,060,365 shares. First Data Corporation has a 12 month low of $12.74 and a 12 month high of $19.20. The company has a market capitalization of $16.84 billion, a price-to-earnings ratio of 30.52 and a beta of 1.77. The stock has a 50 day moving average price of $18.15 and a 200-day moving average price of $17.17.
First Data Corporation (NYSE:FDC) last posted its earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating the 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 for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Analysts forecast that First Data Corporation will post $1.53 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of FDC. Russell Investments Group Ltd. increased its position 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 valued at $1,635,000 after acquiring an additional 86,192 shares during the period. Great West Life Assurance Co. Can increased its position in 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 valued at $1,477,000 after acquiring an additional 6,055 shares during the period. State Board of Administration of Florida Retirement System increased its position in First Data Corporation by 0.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 313,570 shares of the business services provider’s stock valued at $4,860,000 after acquiring an additional 1,500 shares during the period. American Century Companies Inc. increased its position in First Data Corporation by 475.6% in the 1st quarter. American Century Companies Inc. now owns 98,613 shares of the business services provider’s stock valued at $1,529,000 after acquiring an additional 81,480 shares during the period. Finally, US Bancorp DE increased its position in 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 valued at $437,000 after acquiring an additional 2,916 shares during the period. Hedge funds and other institutional investors own 39.13% of the company’s stock.
Several equities research analysts recently weighed in on FDC shares. Zacks Investment Research upgraded 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 Friday, July 21st. Credit Suisse Group reaffirmed an “outperform” rating on shares of First Data Corporation in a research report on Tuesday, September 5th. BTIG Research reaffirmed a “buy” rating and set a $23.00 price target (up previously from $18.00) on shares of First Data Corporation in a research report on Monday, June 19th. ValuEngine lowered First Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Morgan Stanley lowered First Data Corporation from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $18.00 to $19.00 in a research report on Wednesday, June 28th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $18.91.
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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