First Data (NYSE:FDC) had its price objective increased by investment analysts at Robert W. Baird from $28.00 to $30.00 in a report issued on Friday. The firm currently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price target indicates a potential upside of 26.69% from the stock’s previous close.
A number of other research analysts have also commented on the company. Nomura increased their price objective on First Data from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday. ValuEngine lowered First Data from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $37.00 price objective on shares of First Data in a research report on Thursday, September 27th. BMO Capital Markets assumed coverage on First Data in a research report on Wednesday, September 26th. They issued a “market perform” rating and a $26.00 price objective on the stock. Finally, Wedbush increased their price objective on First Data from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, September 6th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $27.25.
FDC traded up $0.20 during mid-day trading on Friday, reaching $23.68. The stock had a trading volume of 47,108 shares, compared to its average volume of 8,115,303. The firm has a market capitalization of $22.32 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 1.80 and a beta of 1.56. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03. First Data has a 52 week low of $14.73 and a 52 week high of $26.62.
In related news, insider Jeff Shanahan sold 115,229 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 256,100 shares of the company’s stock, valued at approximately $6,131,034. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Guy Chiarello sold 150,000 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $25.06, for a total value of $3,759,000.00. Following the sale, the president now directly owns 1,408,272 shares in the company, valued at approximately $35,291,296.32. The disclosure for this sale can be found here. Insiders have sold a total of 416,432 shares of company stock worth $10,415,596 in the last ninety days. 5.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of FDC. Acadian Asset Management LLC acquired a new stake in shares of First Data in the 2nd quarter valued at about $171,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of First Data in the 2nd quarter valued at about $188,000. Nicolet Bankshares Inc. acquired a new stake in shares of First Data in the 2nd quarter valued at about $206,000. Levin Capital Strategies L.P. acquired a new stake in shares of First Data in the 1st quarter valued at about $240,000. Finally, Marshall Wace LLP acquired a new stake in shares of First Data in the 2nd quarter valued at about $242,000. 51.29% of the stock is currently owned by institutional investors and hedge funds.
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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