First Data Corp (NYSE:FDC) had its target price increased by Citigroup Inc from $18.00 to $19.00 in a report released on Tuesday morning. Citigroup Inc currently has a buy rating on the business services provider’s stock.
A number of other research firms have also recently weighed in on FDC. Instinet restated a neutral rating and issued a $16.00 price target on shares of First Data Corp in a report on Tuesday, February 21st. Zacks Investment Research upgraded First Data Corp from a hold rating to a strong-buy rating and set a $19.00 target price on the stock in a report on Friday, February 17th. BTIG Research reiterated a buy rating and set a $18.00 target price on shares of First Data Corp in a report on Wednesday, February 15th. Barclays PLC increased their target price on First Data Corp from $17.00 to $19.00 and gave the company an overweight rating in a report on Tuesday, February 14th. Finally, Stifel Nicolaus increased their target price on First Data Corp from $16.00 to $17.00 and gave the company a hold rating in a report on Tuesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $17.61.
First Data Corp (NYSE:FDC) opened at 16.39 on Tuesday. First Data Corp has a 52 week low of $9.90 and a 52 week high of $17.01. The stock has a market capitalization of $15.06 billion, a PE ratio of 29.58 and a beta of 1.76. The stock has a 50 day moving average price of $15.46 and a 200 day moving average price of $15.22.
First Data Corp (NYSE:FDC) last issued its earnings results on Monday, May 8th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.07. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.78 billion. First Data Corp had a return on equity of 25.67% and a net margin of 3.63%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. Equities analysts forecast that First Data Corp will post $1.53 EPS for the current year.
In related news, insider Matthew Cagwin sold 8,195 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $16.42, for a total value of $134,561.90. Following the transaction, the insider now directly owns 85,007 shares of the company’s stock, valued at approximately $1,395,814.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Trellus Management Company LLC bought a new position in First Data Corp during the third quarter valued at approximately $395,000. LMR Partners LLP bought a new position in First Data Corp during the third quarter valued at approximately $3,598,000. Aperio Group LLC raised its position in First Data Corp by 21.0% in the third quarter. Aperio Group LLC now owns 17,983 shares of the business services provider’s stock valued at $237,000 after buying an additional 3,124 shares during the period. Commerce Bank raised its position in First Data Corp by 19.6% in the third quarter. Commerce Bank now owns 1,564,100 shares of the business services provider’s stock valued at $20,584,000 after buying an additional 256,045 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in First Data Corp by 5.9% in the third quarter. PNC Financial Services Group Inc. now owns 16,546 shares of the business services provider’s stock valued at $218,000 after buying an additional 918 shares during the period. 36.54% of the stock is currently owned by institutional investors and hedge funds.
First Data Corp 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.