Buckingham Research Begins Coverage on First Data Corporation (FDC)
Buckingham Research started coverage on shares of First Data Corporation (NYSE:FDC) in a research report released on Monday, MarketBeat.com reports. The firm issued a buy rating and a $23.00 price target on the business services provider’s stock.
A number of other equities research analysts have also commented on FDC. Wedbush reiterated a neutral rating and set a $20.00 price target (up from $15.00) on shares of First Data Corporation in a report on Tuesday, June 6th. BTIG Research reiterated a buy rating and set a $23.00 price target (up from $18.00) on shares of First Data Corporation in a report on Monday, June 19th. Morgan Stanley lowered shares of First Data Corporation from an overweight rating to an equal weight rating and upped their price target for the company from $18.00 to $19.00 in a report on Wednesday, June 28th. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of First Data Corporation from $19.00 to $20.00 and gave the company an outperform rating in a report on Thursday, July 13th. Finally, Zacks Investment Research upgraded shares of First Data Corporation from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Friday, July 21st. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $19.05.
Shares of First Data Corporation (NYSE:FDC) opened at 17.74 on Monday. The stock’s 50 day moving average is $18.12 and its 200 day moving average is $17.34. First Data Corporation has a 52-week low of $13.01 and a 52-week high of $19.20. The firm has a market capitalization of $16.37 billion, a PE ratio of 29.67 and a beta of 1.73.
First Data Corporation (NYSE:FDC) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.06. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the business posted $0.35 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that First Data Corporation will post $1.53 EPS for the current year.
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In other news, insider Jeff Shanahan acquired 118,135 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average cost of $17.81 per share, with a total value of $2,103,984.35. Following the transaction, the insider now owns 1,122,038 shares of the company’s stock, valued at approximately $19,983,496.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher M. Foskett sold 10,254 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $18.40, for a total transaction of $188,673.60. Following the sale, the insider now directly owns 430,294 shares in the company, valued at $7,917,409.60. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 340,217 shares of company stock worth $6,139,786 and have sold 151,830 shares worth $2,754,035. Corporate insiders own 6.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FDC. Pacer Advisors Inc. boosted its holdings in shares of First Data Corporation by 8.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 452 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of First Data Corporation by 113.3% during the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 2,964 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of First Data Corporation by 1,276.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 6,153 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of First Data Corporation during the 2nd quarter valued at about $135,000. Finally, Riverhead Capital Management LLC purchased a new stake in shares of First Data Corporation during the 2nd quarter valued at about $135,000. 39.13% of the stock is currently owned by 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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