First Data (FDC) Rating Increased to Buy at ValuEngine

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First Data (NYSE:FDC) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other analysts also recently issued research reports about the stock. Stephens reaffirmed a “buy” rating and set a $27.00 price target on shares of First Data in a report on Wednesday, August 1st. Wolfe Research initiated coverage on shares of First Data in a research note on Tuesday, July 17th. They issued an “outperform” rating for the company. Guggenheim reissued a “buy” rating and issued a $27.00 price objective on shares of First Data in a research note on Tuesday, July 31st. Zacks Investment Research downgraded shares of First Data from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Nomura reissued a “hold” rating and issued a $18.00 price objective on shares of First Data in a research note on Tuesday, July 31st. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $25.31.

Shares of First Data stock opened at $25.87 on Tuesday. First Data has a 1-year low of $14.73 and a 1-year high of $26.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.77. The company has a market cap of $24.02 billion, a PE ratio of 20.21, a PEG ratio of 1.93 and a beta of 1.54.

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

In other First Data news, insider Christopher M. Foskett sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $21.77, for a total value of $380,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff Shanahan sold 115,229 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $23.94, for a total transaction of $2,758,582.26. Following the completion of the transaction, the insider now owns 256,100 shares of the company’s stock, valued at $6,131,034. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 300 shares of company stock valued at $6,780 and sold 282,729 shares valued at $6,898,557. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL increased its position in shares of First Data by 8.2% during the second quarter. Gamco Investors INC. ET AL now owns 27,600 shares of the business services provider’s stock worth $578,000 after buying an additional 2,100 shares during the period. CIBC Asset Management Inc increased its position in shares of First Data by 7.4% during the second quarter. CIBC Asset Management Inc now owns 33,017 shares of the business services provider’s stock worth $691,000 after buying an additional 2,285 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of First Data by 6.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 37,800 shares of the business services provider’s stock worth $791,000 after buying an additional 2,292 shares during the period. Centaurus Financial Inc. increased its position in shares of First Data by 18.8% during the first quarter. Centaurus Financial Inc. now owns 17,500 shares of the business services provider’s stock worth $280,000 after buying an additional 2,775 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of First Data by 4.4% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 71,771 shares of the business services provider’s stock worth $1,148,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 51.28% of the company’s stock.

First Data Company Profile

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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Analyst Recommendations for First Data (NYSE:FDC)

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