The First Data Corporation (FDC) Given Hold Rating at Cantor Fitzgerald

The First Data Corporation (FDC) Given Hold Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their hold rating on shares of First Data Corporation (NYSE:FDC) in a research note published on Friday. They currently have a $17.00 price target on the business services provider’s stock.

A number of other equities analysts also recently issued reports on FDC. Piper Jaffray Companies restated an overweight rating and issued a $23.00 price target (up from $22.00) on shares of First Data Corporation in a research note on Thursday, August 10th. BidaskClub downgraded First Data Corporation from a buy rating to a hold rating in a research report on Saturday, August 12th. Morgan Stanley lifted their target price on First Data Corporation from $19.00 to $20.00 and gave the company an equal weight rating in a research report on Tuesday, August 8th. SunTrust Banks, Inc. reiterated a buy rating on shares of First Data Corporation in a research report on Friday. Finally, Craig Hallum reiterated a buy rating and set a $25.00 target price (up from $20.00) on shares of First Data Corporation in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $19.42.

Shares of First Data Corporation (FDC) opened at 18.91 on Friday. The company’s 50 day moving average price is $18.13 and its 200-day moving average price is $17.63. The company has a market capitalization of $17.45 billion, a price-to-earnings ratio of 31.62 and a beta of 1.74. First Data Corporation has a 1-year low of $13.01 and a 1-year high of $19.23.

First Data Corporation (NYSE:FDC) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS. On average, equities analysts forecast that First Data Corporation will post $1.53 earnings per share for the current year.

In other news, insider Barry C. Mccarthy sold 81,858 shares of First Data Corporation stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $18.17, for a total value of $1,487,359.86. Following the sale, the insider now directly owns 406,890 shares of the company’s stock, valued at $7,393,191.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff Shanahan bought 118,135 shares of First Data Corporation stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $17.81 per share, for a total transaction of $2,103,984.35. Following the completion of the acquisition, the insider now directly owns 1,122,038 shares of the company’s stock, valued at approximately $19,983,496.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 340,317 shares of company stock worth $6,141,554 and sold 151,830 shares worth $2,754,035. Insiders own 6.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of First Data Corporation by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,153 shares of the business services provider’s stock worth $157,000 after purchasing an additional 45 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of First Data Corporation by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock worth $327,000 after purchasing an additional 348 shares during the last quarter. Comerica Bank increased its holdings in shares of First Data Corporation by 3.1% in the first quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock worth $202,000 after purchasing an additional 391 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of First Data Corporation by 8.9% in the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after purchasing an additional 452 shares during the last quarter. Finally, HL Financial Services LLC increased its holdings in shares of First Data Corporation by 3.5% in the second quarter. HL Financial Services LLC now owns 17,950 shares of the business services provider’s stock worth $327,000 after purchasing an additional 600 shares during the last quarter. 39.20% of the stock is currently owned by hedge funds and other 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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